GRC Report Staff

The European Commission has officially rolled out two comprehensive legislative packages - Omnibus I and Omnibus II - aimed at reducing the regulatory burden on businesses while advancing sustainability efforts and unlocking new investment opportunities. These changes represent a significant shift for businesses across the EU, particularly small and medium-sized enterprises (SMEs), by simplifying compliance with sustainability reporting, due diligence, and carbon emissions rules.

The Commodity Futures Trading Commission (CFTC) has released an advisory designed to clarify its approach toward self-reporting, cooperation, and remediation in its enforcement actions. This new framework aims to provide clear guidelines for companies and individuals seeking to mitigate potential penalties through voluntary disclosures, cooperation with the agency, and efforts to remediate violations.

In a move that feels more like a privacy rollercoaster than a tech update, Apple has pulled its Advanced Data Protection (ADP) service from the United Kingdom. If you’re scratching your head wondering why this matters, ADP is a service that provides end-to-end encryption for iCloud data. That means your photos, notes, and other personal files are only accessible by you—unless, of course, someone gets a backdoor key. And that's exactly what the UK government has been asking for.

The Public Company Accounting Oversight Board (PCAOB) has recently put its foot down on PwC Israel (Kesselman & Kesselman C.P.A.s) for a serious lapse in integrity that undermined professional standards. The firm, a member of the global PricewaterhouseCoopers network, has been slapped with a $2.75 million fine, a public censure, and a raft of corrective measures after it was found guilty of allowing improper answer sharing on internal training exams over a span of five years.

The Competition and Markets Authority (CMA) has reached a settlement with several major banks over the unlawful exchange of competitively sensitive information. The settlement centers on the secretive sharing of details related to UK government bonds—commonly known as gilts—which play a crucial role in financing public spending.

In a spirited effort to demystify the world of environmental, social, and governance (ESG) risks, the European Banking Authority (EBA) has unveiled a report that reads like both a celebration and a call to action. Amid the complexities of modern finance, the report reveals tangible progress in making ESG data more available and accessible, yet it reminds us that the puzzle is far from complete.

DeepSeek, the China-based AI chatbot service, is currently navigating a tricky regulatory landscape as privacy concerns grow across the globe. After being hit with privacy scrutiny in South Korea and facing an enforcement action in Italy over data protection practices, DeepSeek is working to address key concerns to avoid further disruptions to its operations.