GRC Report Staff

The European Commission said that it has reached preliminary findings that TikTok's default account settings for minors do not meet the child protection standards required under the Digital Services Act, accusing the platform of exposing young users to unnecessary risks from the moment they create an account. The findings stop short of a final decision, but they mark another significant step in the Commission's increasingly broad scrutiny of TikTok's design.

Eight years after promising regulators it would fix persistent weaknesses in its anti-money laundering controls, UBS is paying for what those regulators say it failed to finish. Four regulators announced coordinated enforcement actions Monday imposing a combined $173 million in penalties against the firm, concluding that deficiencies identified years earlier continued to undermine transaction monitoring, customer due diligence, and suspicious activity reporting. The actions were brought by the Treasury Department's Financial Crimes Enforcement Network (FinCEN), the Securities and Exchange Commission, the Commodity Futures Trading Commission, and the Financial Industry Regulatory Authority.

The European Banking Authority (EBA), European Insurance and Occupational Pensions Authority (EIOPA), and European Securities and Markets Authority (ESMA) published a joint statement that is not warning that frontier artificial intelligence will eventually reshape cybersecurity. They are arguing that it already has.

In a 6-3 decision, the court ruled that President Donald Trump lawfully removed Federal Trade Commissioner Rebecca Kelly Slaughter in March 2025 without citing any statutory cause, overturning the core holding of Humphrey's Executor v. United States, the 1935 decision that had long shielded members of independent commissions from at-will dismissal. The ruling dramatically expands presidential authority over agencies that Congress intentionally designed to operate with a degree of independence from the White House.

Someone looking for treatment through Hims & Hers could reasonably believe they were beginning a conversation with a medical provider. The company's advertising invited them to connect with a clinician, discuss their symptoms, and determine whether a prescription made sense. According to the Federal Trade Commission, many consumers were doing something else entirely. They were setting a recurring subscription in motion before that conversation ever happened.

The Accounting and Corporate Regulatory Authority (ACRA) has opened a public consultation on draft Singapore Sustainability Disclosure Standards that would require companies to explain how they identify, assess, and manage climate-related risks and opportunities. The consultation runs from July 27 through Oct. 25, giving businesses, investors, assurance providers, and professional bodies a chance to shape the rules before they are finalized.

The European insurance sector remains on stable footing despite growing geopolitical uncertainty and an increasingly challenging cyber threat landscape, according to the latest risk assessment from the European Insurance and Occupational Pensions Authority (EIOPA).