GRC Report Staff

The Ninth Circuit Court of Appeals has put a temporary hold on California’s Climate-related Financial Risk Act, SB 261, granting an injunction that pauses enforcement while the law faces an ongoing legal challenge. The court’s brief, one-page order did not explain its reasoning, but it drew a clear line between the state’s two major climate disclosure laws. First, SB 261 is paused for now, and second, SB 253 will continue moving forward as planned.

California’s privacy regulator is sharpening its focus on the data broker industry, creating a new enforcement strike force to investigate how companies collect, sell, and manage personal information across the state. The effort marks one of the agency’s most concentrated pushes yet to bring more visibility, and accountability, to a sector often operating out of public sight.

Switzerland’s financial supervisor is warning that the country’s financial centre is heading into 2025 with a risk landscape that is more complex, more interconnected, and more difficult to navigate than in previous years. In its newly published 2025 Risk Monitor, FINMA highlights a mix of geopolitical uncertainty, technological fragility, and persistent real estate pressures that, taken together, are shaping a more demanding environment for institutions across the sector.

Spain’s financial and audit regulators are trying to bring some stability to the sustainability reporting landscape as the clock ticks toward the 2025 reporting cycle. This week, the Comisión Nacional del Mercado de Valores (CNMV) and the Institute of Accounting and Auditing (ICAC) issued a joint statement outlining how Spanish companies should approach their disclosures while the Corporate Sustainability Reporting Directive (CSRD) is still in the process of being transposed into national law.

The UK’s Financial Reporting Council has issued a new thematic review highlighting persistent weaknesses in the corporate reporting of smaller listed companies and offering practical guidance aimed at narrowing the quality gap with larger firms.

The European Commission has presented a package of digital measures intended to reduce administrative burdens and support business growth across the EU. The initiative is designed to help companies focus more on innovation while maintaining the bloc’s standards for fundamental rights, data protection, safety, and fairness.

Optus Mobile has paid a penalty of about $537,000 (AUD $826,320) after Australia’s communications regulator found the company failed to follow required anti-scam rules, leaving several customers vulnerable to financial losses and identity theft.