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Financial large language models (FinLLMs) have been applied to various tasks in business, finance, accounting, and auditing. Complex financial regulations and standards are critical to financial services, which LLMs must comply with. However, FinLLMs’ performance in understanding and interpreting financial regulations has rarely been studied. Therefore, we organize the Regulations Challenge, a shared task at COLING FinNLP-FNP-LLMFinLegal2025. It encourages the academic community to explore the strengths and limitations of popular LLMs. We create 9 novel tasks and corresponding question sets. In this paper, we provide an overview of these tasks and summarize participants’ approaches and results. We aim to raise awareness of FinLLMs’ professional capability in financial regulations. 

This paper introduces the concept of Language- Guided World Models (LWMs)—probabilistic models that can simulate environments by read- ing texts. Agents equipped with these models provide humans with more extensive and effi- cient control, allowing them to simultaneously alter agent behaviors in multiple tasks via nat- ural verbal communication. In this work, we take initial steps in developing robust LWMs that can generalize to compositionally novel language descriptions. We design a challenging world modeling benchmark based on the game of MESSENGER (Hanjie et al., 2021), featuring evaluation settings that require varying degrees of compositional generalization. Our exper- iments reveal the lack of generalizability of the state-of-the-art Transformer model, as it of- fers marginal improvements in simulation qual- ity over a no-text baseline. We devise a more robust model by fusing the Transformer with the EMMA attention mechanism (Hanjie et al., 2021). Our model substantially outperforms the Transformer and approaches the perfor- mance of a model with an oracle semantic pars- ing and grounding capability. To demonstrate the practicality of this model in improving AI safety and transparency, we simulate a scenario in which the model enables an agent to present plans to a human before execution, and to re- vise plans based on their language feedback. 

We propose a statistical framework for clustering multiple time series that exhibit nonlinear dynamics into an a-priori-unknown number of sub-groups that each comprise time series with similar dynamics. Our motivation comes from neuroscience where an important problem is to identify, within a large assembly of neurons, sub-groups that respond similarly to a stimulus or contingency. In the neural setting, conditioned on cluster membership and the parameters governing the dynamics, time series within a cluster are assumed independent and generated according to a nonlinear binomial state-space model. We derive a Metropolis-within-Gibbs algorithm for full Bayesian inference that alternates between sampling of cluster membership and sampling of parameters of interest. The Metropolis step is a PMMH iteration that requires an unbiased, low variance estimate of the likelihood function of a nonlinear state- space model. We leverage recent results on controlled sequential Monte Carlo to estimate likelihood functions more efficiently compared to the bootstrap particle filter. We apply the framework to time series acquired from the prefrontal cortex of mice in an experiment designed to characterize the neural underpinnings of fear.