In what is sure to be a controversial turn of events, the U.S. Securities and Exchange Commission (SEC) has decided to pull back from its defense of the much-debated climate disclosure rules. A move that may change the course of corporate environmental regulation, the SEC’s vote today marks a shift in its approach to climate-related corporate transparency.
Ofcom has imposed a £1.05 million fine on Fenix International Limited, the operator behind OnlyFans, for failing to provide accurate information about its age assurance measures. This penalty comes after the company provided misleading responses to formal requests made by the regulator in 2022 and 2023, raising concerns over its age verification processes for users.
The Monetary Authority of Singapore (MAS) is looking to broaden the horizons for investment opportunities by proposing a new regulatory framework. The idea is simple yet transformative—giving retail investors a chance to tap into private market investment funds, an area previously reserved for institutional players or the ultra-wealthy.
For those unfamiliar with Wyelands Bank, it has been around since 1980, but its fate took a significant turn when it was acquired in 2016 by a new owner. This acquisition placed the bank under the umbrella of the Gupta Family Group Alliance (GFG Alliance), a conglomerate with diverse interests, including steel, aluminum, and renewable energy. By 2019, the bank had shifted its primary focus to trade finance, with a staggering 84% of its business tied to GFG Alliance-related entities.
MORSE Corp, a defense contractor based in Cambridge, Massachusetts, has agreed to pay $4.6 million to settle allegations related to cybersecurity failures in its contracts with the U.S. Army and Air Force. The settlement comes after claims that the company submitted false payment requests despite knowing it had not met the necessary cybersecurity standards required by these contracts.
Poland’s Supreme Administrative Court (NSA) has ruled in favor of the Polish Financial Supervision Authority (KNF), rejecting an appeal from Raiffeisen Bank International (RBI) over a hefty fine for failing to properly fulfill its role as a depositary. This ruling, which dates back to February 13, 2025, strengthens the KNF’s oversight powers and sets a critical precedent for financial market supervision in the country.
This week, the Department of Justice (DOJ) announced two settlements involving False Claims Act (FCA) violations. Evolutions Flooring, a California-based importer, and Seoul Medical Group, a healthcare provider, will pay a combined total of over $70 million to resolve allegations of fraudulent activity. These settlements highlight the DOJ's ongoing efforts to enforce compliance and hold companies accountable for misrepresentations made to the U.S. government.