SECP Issues Draft Actuarial Rules 2025 for Public Consultation

The Securities and Exchange Commission of Pakistan (SECP) has proposed the draft Actuarial Valuation Rules, 2025, to align insurance valuation practices with international standards and promote transparency and innovation in the sector. In Nigeria, industry leaders emphasize the need for stronger collaboration between regulators and fintech operators to foster sustainable growth and financial inclusion while addressing risks such as cyber fraud. Meanwhile, in the U.S., SEC Chair Paul Atkins signaled a possible reconsideration of allowing foreign companies to use International Financial Reporting Standards (IFRS) without reconciliation to U.S. rules, contingent on the funding status of the International Accounting Standards Board amid evolving sustainability reporting standards. Nigerian regulatory bodies, including the SEC, are actively adopting IFRS Sustainability Disclosure Standards (ISSB Standards) to improve corporate transparency, reduce information risks, and attract investment, with a phased mandatory implementation planned through 2030. These developments reflect a global trend toward harmonizing financial and sustainability reporting standards to support investor confidence and market stability.