GRC Report Staff

The President of the Office of Competition and Consumer Protection (UOKiK) has opened proceedings against several companies involved in condo hotel developments, alleging they misled consumers about investment returns while failing to explain the costs and risks that could emerge long after the brochures had been put away. The investigations also challenge contract terms that, according to the regulator, deprived owners of meaningful control over properties they had purchased and punished those who tried to exercise it.

Dallas-based Magnolia Diagnostics, its owners, and a group of investors have agreed to pay the United States $24 million to resolve allegations that the laboratory billed Medicare for thousands of medically unnecessary respiratory pathogen panel (RPP) tests performed on seniors undergoing COVID-19 testing. Of that total, Magnolia and its owners will pay $19.2 million to resolve allegations under the False Claims Act, while investors will pay a further $4.8 million to resolve civil claims for unjust enrichment, payment by mistake, and claims under the Federal Debt Collection Procedures Act arising from distributions they received from the company.

The Dutch Authority for the Financial Markets (AFM) has identified several areas where fund managers should strengthen their compliance and internal audit functions, despite finding that many firms have those functions broadly well organized.

Banks have spent centuries refining a single business model. They borrow trust, transform it into financial activity, and spend every day trying not to lose it. That is what makes a recent reflection from Bank of Ireland more interesting than it first appears. On its surface, it reads like another executive essay about artificial intelligence, full of familiar references to fraud detection, customer service, compliance monitoring, and operational efficiency. Those examples are almost expected now. Every large financial institution has a similar catalogue of use cases.

In its Annual Enforcement Review 2026, the UK's Financial Reporting Council does more than catalog another year's worth of enforcement activity. It draws a line from the mistakes uncovered in investigations to the weaknesses the regulator continues to see in financial reporting, audit quality, and firms' internal systems of control. Just as importantly, it explains how those cases are shaping the FRC's supervisory work and the standards it expects the profession to meet.

Poland's Data Management Act took effect Thursday, completing a piece of legal architecture that has been waiting for its final support. The European Union's Data Governance Act has applied across the bloc since 2023. What entered into force now is the national legislation that gives the regulation a fully functioning home inside Poland's legal system.

In two decisions under the European Union's Digital Markets Act (DMA), the Commission fined Google a combined €890 million, finding that the company unlawfully favored its own services in Google Search while also preventing app developers from freely steering customers toward alternative purchasing channels outside Google Play. The penalties amount to €460 million for Google's search practices and €430 million for its Play Store policies.