GRC Report Staff

MAS Calls on Financial Institutions to Address Culture Behind Recurring Risk Failures

The Monetary Authority of Singapore is urging financial institutions to look beyond control deficiencies when serious risk events recur, warning that remediation may not hold if the behavioral patterns and cultural conditions behind those failures remain unchanged.

Veloxis Pharmaceuticals to Pay More Than $46 Million Over Kickback Schemes

Veloxis has agreed to pay more than $46 million to resolve criminal and civil liability tied to kickback schemes involving healthcare providers and specialty pharmacies, the Justice Department said Monday. The North Carolina drugmaker entered into a deferred prosecution agreement connected to a criminal conspiracy charge and agreed to settlements covering alleged false claims submitted to federal healthcare programs and failures to properly disclose payments to physicians.

AGCO & Dealers Fined $36 Million Over 11-Year Farm Machinery Cartel in Poland

Poland’s Office of Competition and Consumer Protection has found that AGCO and eight agricultural machinery dealers spent 11 years dividing the Polish market and exchanging pricing information, an arrangement that restricted farmers’ ability to obtain competing offers for tractors, combine harvesters and, for some brands, spare parts.

EU Banks’ Climate Risk Exposures Hold Steady as Data Gaps Narrow, EBA Says

European banks entered the final months of 2025 with much the same climate-risk exposure they had six months earlier. What changed was their ability to measure it. The European Banking Authority said last Thursday that climate-related risk indicators across banks in the European Union and European Economic Area remained broadly stable during the second half of last year, with little movement in either transition or physical risk exposures. At the same time, banks made gradual progress filling some of the data gaps that have complicated efforts to assess those risks, particularly in mortgage portfolios.

Metropolitan Police Ordered to Overhaul Data Protection After Two Preventable Disclosure Failures

The Information Commissioner's Office did not describe the Metropolitan Police Service's latest data protection failures as isolated mistakes. After investigating two unrelated disclosures of highly sensitive personal information, the regulator concluded that both pointed to the same underlying problem: basic safeguards had been allowed to weaken inside one of Britain's largest police forces.

German Competition Authority Fines Road Maintenance Companies €60.3 Million Over Decade-Long Cartel

The Bundeskartellamt has imposed fines totaling approximately €60.3 million on companies it says spent nearly a decade deciding among themselves who would win contracts before public authorities had finished inviting bids. The authority concluded that the firms divided customers, coordinated prices, and exchanged cover bids in the market for Dünne Asphaltdeckschichten in Kaltbauweise, or DSK, a cold-applied asphalt surfacing technique widely used to extend the life of roads.

Italy Fines Bird, Dott & Lime Nearly €2.7 Million Over Rome Micromobility Commitments

When Rome awarded contracts to Bird, Dott, and Lime to operate shared e-bikes and e-scooters across the city, the companies promised something beyond simply making vehicles available. Holders of the annual Metrebus public transport pass would also receive packages of free rides, extending the reach of the city's transit network beyond the bus stop or train station. It was one of the commitments that helped secure the concession.