GRC Report Staff

The Upper Tribunal upheld the FCA's ban on Crispin Odey from financial services after finding he lacked integrity. The finding rested on his removal of Odey Asset Management's executive committee to halt an internal disciplinary process, and on a lack of candour toward the firm, clients, investors, and the FCA. The decision reinforces that the FCA will hold senior individuals personally accountable for governance failures and for how workplace misconduct is handled.

BaFin intends to raise the reciprocally applied Austrian sectoral systemic risk buffer (SyRB) for certain commercial real estate (CRE) exposures from 1.0% to 2.0%, and to 3.5% from July 1, 2027. German institutions with Austrian CRE-related exposures above EUR $100 Million must plan for higher capital requirements. Comments are due by September 28, 2026, and the decision remains pending.

BaFin issued Circular 11/2026 (BA) on September 14, 2026, covering the appointment of trustees at mortgage banks under Sections 7 et seq. of the German Mortgage Bank Act (PfandBG). Trustees oversee the cover pool that backs Pfandbriefe, so the circular is relevant to any institution issuing covered bonds. Only the title and metadata were available for this review, so teams should read the full PDF before acting.

In a speech at the Solana Policy Institute Summit, SEC Chairman Paul Atkins described three connected initiatives under Project Crypto: the proposed Regulation Crypto Assets, proposed transfer agent modernization rules, and a forthcoming custody proposal for investment advisers and regulated funds. He also urged Congress to pass the CLARITY Act while saying the SEC will proceed with or without it. Compliance teams at advisers, funds, broker-dealers, and transfer agents should prepare for substantial changes to how crypto assets are issued, held, and transferred.

BaFin has a well-founded suspicion that Nexura VG is publicly offering GoldRock Industries Ltd. shares in Germany without the prospectus required under Article 3(1) of the EU Prospectus Regulation. Compliance teams should treat this as a red flag for potential investment fraud or unauthorized securities distribution. The warning calls for screening of client activity, counterparties, and marketing channels for any link to the named entities.

The OCC's September 14, 2026 update to 12 CFR Part 4 (91 FR 58014) amends §§ 4.6 and 4.7, which govern how often national banks, Federal savings associations, and Federal branches and agencies receive full-scope, on-site examinations. The remainder of the text provided is largely organizational and procedural, but the examination cycle provisions directly affect supervisory planning and readiness for institutions near the 18-month eligibility thresholds.

Bundesbank official Michael Theurer argues in a Handelsblatt guest commentary that EU banking rules should be simplified and made more proportionate without lowering resilience standards. He supports cross-border group-level capital and liquidity management and a lighter framework for small, non-complex banks. The commentary signals the supervisory direction ahead of the European Commission's expected legislative proposals by early 2027, so compliance teams should begin planning now.