GRC Report Staff

Sapia to Pay £19.6 Million to WealthTek Clients as FCA Rebukes Firm Over Client Money Failures

Sapia will pay more than £19.6 million to clients of WealthTek after UK regulators found the firm failed to put adequate safeguards around client money, exposing customers to the risk of loss.

AFM Steps Up Pressure on Financial Firms to Strengthen Digital Accessibility Compliance

In its latest update tied to the European Accessibility Act, the Netherland's Autoriteit Financiële Marktenthe laid out guidance for firms navigating accessibility requirements, while making clear that oversight will intensify in the months ahead. The aim is to ensure that people with disabilities can access and manage financial services independently in an increasingly digital environment.

EBA Urges Rethink of Commission Amendments to Operational Risk Framework

The European Banking Authority has raised concerns over proposed changes by the European Commission to key technical standards governing how banks calculate operational risk, cautioning that parts of the revisions could undermine consistency and supervisory effectiveness across the EU.

Live Nation Hit With $3.8 Million Fine as Polish Regulator Orders Consumer Refunds Over Contract Terms

The Polish Office of Competition and Consumer Protection found that provisions used by the events giant created confusion at venue entrances and imposed unfair hurdles on refunds for canceled shows. The regulator has imposed a fine of approximately $3.8 million (PLN 15.3 million) and ordered the company to compensate affected consumers.

Spain’s Competition Watchdog Urges Stronger Role for Market Forces in Anti-Corruption Push

Spain’s competition regulator, the National Commission on Markets and Competition, is released a formal opinon pressing for a sharper focus on competition as lawmakers move forward with a sweeping effort to strengthen public sector integrity.

ECB’s Elderson Signals Climate Risk Is No Longer Optional for Banks or Central Banks

A senior official at the European Central Bank has emphasized that climate and environmental risks are now a necessary part of how the institution assesses inflation, financial stability, and the resilience of banks.

PwC Hong Kong to Set Aside $128 Million for Evergrande Shareholders After SFC Probe

Hong Kong’s Securities and Futures Commission has reached a landmark agreement with PricewaterhouseCoopers Hong Kong that will see the audit firm set aside approximately $128 million (HK$1 billion) to compensate certain shareholders of China Evergrande Group, marking a rare instance of auditors contributing directly to investor restitution.