洞悉势变，智掌先机：《全球视野——金融监管新动向与风险展望》报告

Core Viewpoint - Financial markets experienced turbulence in the first half of 2025 due to economic and geopolitical instability, but regained calm in the second half. However, the International Monetary Fund warns of potential future challenges, urging regulators to remain vigilant while reducing unnecessary burdens on financial institutions to foster economic growth and competitiveness [1]. Regulatory Trends - Global financial regulators are under political pressure to reassess the impact of financial regulation on economic growth. The U.S. has shifted towards more aggressive deregulation, while the UK and EU have adopted a more cautious approach with "simplified regulation" [4]. - The adoption of artificial intelligence in the financial sector is accelerating, but the regulatory environment remains complex, with some jurisdictions introducing specific regulations like the EU's Artificial Intelligence Act [5]. - Regulatory bodies in the UK, EU, and Asia-Pacific are focusing on promoting retail investment, with the EU developing a Retail Investment Strategy and the UK implementing a "targeted support" system [6]. Globalization and Fragmentation - The convergence of global rules based on international standards is giving way to fragmentation in regulatory practices across regions. The World Economic Forum estimates that geopolitical fragmentation could lead to a global GDP loss of approximately 5% [7]. Digital Asset Regulation - As digital assets become more integrated into the mainstream financial system, regulators are developing frameworks for cryptocurrency activities and oversight for both traditional financial institutions and native crypto firms [8]. Private Assets and Market Resilience - The private asset industry is growing rapidly with support from global policymakers, seen as a vital tool for economic growth. However, recent bankruptcy events may raise concerns about systemic risks among regulators and investors [9]. Institutional and System Resilience - Regulatory bodies are focused on ensuring the resilience of financial services and their supply chains in response to geopolitical changes and increasing technological dependencies [10]. Sustainable Development - As sustainable development policies mature, the industry is rethinking how to create value through sustainability initiatives, although geopolitical tensions and shifting political priorities may lead to the simplification or postponement of some regulatory initiatives [11]. Responsibility and Governance - The evolving risk landscape and the simplification of certain regulatory requirements highlight the growing importance of organizational culture and market self-discipline. Regulators emphasize the critical role of management in promoting sound risk management, governance, and decision-making [13]. Future Preparedness - Financial institutions need to proactively address future challenges by balancing prudent regulation, behavioral standards, technological innovation, and sustainable development in a complex and changing environment [14].