GRC Report Staff

In a speech delivered in his personal capacity, a PCAOB Board member urged the Board to revisit the audit firm metrics disclosure rule it adopted in 2024 and withdrew from SEC review in early 2025. He also outlined recent PCAOB initiatives, including amended QC 1000 (effective December 15, 2026), inspection modernization, and a draft 2026-2030 strategic plan. Compliance teams and audit committees should prepare for possible changes to audit oversight and firm transparency, though the remarks are not binding.

On September 11, 2026, the Hong Kong SFC issued a circular notifying licensed corporations, SFC-licensed virtual asset service providers (VASPs), and associated entities that amendments to the Haiti and Yemen UN sanctions regulations took effect immediately upon Gazette publication. The amendments renew financial sanctions and travel bans for both jurisdictions and revise Haiti's arms embargo requirements. Because there is no transition period, compliance teams must promptly confirm that screening and controls reflect the updated regimes.

On September 11, 2026, the Austrian Financial Market Authority (FMA) issued a public warning that Clear Markets Europe, apparently based in London, is not authorized to conduct licensable securities transactions in Austria. The firm may not execute client orders under the Securities Supervision Act 2018 (WAG 2018). Compliance teams should treat the entity as a high-risk, unlicensed counterparty and update screening and fraud controls accordingly.

Japan's Financial Services Agency (FSA) reported 15,418 inquiries to its Financial Services User Consultation Office for April 1 to June 30, 2026, down 347 from the prior quarter. Investment products drew the most inquiries (5,603), and the FSA identified 1,961 fraudulent investment solicitation cases, 1,616 involving some form of damage. Because the FSA feeds this data into supervisory monitoring, compliance teams should treat it as an indicator of likely examination and hearing priorities.

The Norway Financial Supervisory Authority (Finanstilsynet) has listed a warning about MPay Global, an entity flagged by the United Kingdom's Financial Conduct Authority (FCA). The source content is minimal, so the specific misconduct is not stated and must be confirmed in the FCA notice. Compliance teams should screen for any exposure to the entity and update their watchlists.

On September 11, 2026, BaFin warned consumers about loan offers on the website prokredits(.)com, operated under the name "Pro Kredits," which is offering loan agreements in Germany without the required authorization. The warning is a reminder that unlicensed lending activity remains an active fraud risk. Compliance teams should consider it in their fraud, onboarding, and counterparty monitoring controls.

Japan's Financial Services Agency has published draft amendments to the Comprehensive Supervisory Guidelines for Insurance Companies and is soliciting public comments until October 13, 2026. The draft restructures regulations on in-house agents, establishes antitrust compliance system expectations, and enhances monitoring of non-life insurance products for corporations. Non-life insurers and related agencies should assess the impact now and decide whether to submit comments.