GRC Report Staff

The UK’s audit watchdog has sanctioned KPMG and one of its senior partners, Anthony Sykes, for serious lapses in their 2022 audit of online retailer N Brown Group.

Insurance giant IAG New Zealand Limited has been ordered to pay a pecuniary penalty of $11.6 million (NZD 19.5 million) after admitting to widespread fair dealing breaches, marking one of the most significant enforcement outcomes in New Zealand’s financial services sector.

The Competition and Consumer Commission of Singapore (CCS) has released a new Guide on Quality-Related Claims to help businesses ensure their marketing practices are clear, accurate, and backed by evidence. The move comes amid rising concerns over greenwashing and recent enforcement actions against misleading advertising.

California’s privacy watchdog has handed down its biggest penalty yet, hitting Tractor Supply Company with a $1.35 million fine and ordering sweeping reforms to its privacy practices after finding the retailer mishandled the data rights of consumers and job applicants.

Mandatory sustainability reporting surged in 2025 as the first wave of companies published disclosures under the EU’s CSRD and other jurisdictions began implementing the International Sustainability Standards Board’s (ISSB) framework. PwC’s inaugural Global Sustainability Reporting Survey 2025, based on responses from 496 companies, shows that while some organizations have slowed or paused reporting due to regulatory recalibration, many continue pushing ahead, driven by both regulatory requirements and stakeholder expectations.

Europe’s top central bankers are sounding the alarm that now is not the time to go soft on bank regulation. At a gathering in Amsterdam, officials from the European Central Bank and the Bank of England pushed back on calls to cut red tape, warning that rolling back rules could sow the seeds of the next crisis, Reuters first reported.

The Malta Financial Services Authority (MFSA) has issued a pointed warning to financial institutions, urging boards and senior management to treat business resilience as a strategic imperative rather than a compliance formality. The directive, delivered in a Dear CEO Letter on October 3, follows a sector-wide Thematic Exercise that uncovered significant weaknesses in resilience planning, financial forecasting, and risk management.