The Office of the Comptroller of the Currency (OCC) is back in action this month, rolling out a series of enforcement decisions that highlight the agency’s ongoing commitment to ensuring the health and safety of financial institutions. The agency’s latest actions range from enforcing accountability at individual banks to taking decisive steps against those who breach trust.
The Financial Conduct Authority (FCA) has imposed a £9.2 million fine on the London Metal Exchange (LME) for failing to ensure its systems and controls were adequate to handle severe market stress, marking the first-ever enforcement action and fine against a UK-recognised investment exchange.
As technology evolves, so do the tactics of fraudsters. The Commodity Futures Trading Commission’s (CFTC) Office of Customer Education and Outreach (OCEO) has issued a timely warning about a growing threat: criminals are using generative artificial intelligence (AI) to create fraud that’s increasingly difficult to detect. In its latest advisory, Criminals Increasing Use of Generative AI to Commit Fraud, the OCEO highlights how this emerging technology is making it easier than ever for bad actors to create fake identities, convincing social media profiles, and even fraudulent financial platforms—posing significant risks to consumers and businesses alike.
The European Commission is cracking down on two of the tech world’s biggest names, Alphabet and Apple, under the Digital Markets Act (DMA). These actions come as part of a larger effort to ensure that the digital marketplace stays fair, competitive, and innovative—especially for the smaller players who rely on these platforms to reach customers. Let’s dive into what’s happening with both companies.
As Denmark's National Whistleblower Scheme marks its third year, the Danish Data Protection Authority has released its 2024 annual report, shedding light on a year of growth, change, and continued focus on protecting those who speak out against legal violations. Established to provide a safe space for whistleblowers, the scheme has proven to be a critical part of Denmark’s approach to safeguarding EU law and ensuring accountability across both public and private sectors.
When the European Commission unveiled its Omnibus proposal, it sparked a shift in the scope and timing of the Corporate Sustainability Reporting Directive (CSRD)—and with it, some new challenges and opportunities for businesses and auditors alike. The proposal trims the number of companies that must comply with CSRD standards, but despite these changes, the Dutch Authority for the Financial Markets (AFM) is doubling down on its commitment to keeping sustainability reporting both transparent and reliable. The question remains over whether the tweaks in the Omnibus proposal truly improve things, or is it more of a stopgap?
Telenor ASA has recently come under fire for failing to properly handle its Data Protection Officer (DPO) responsibilities. The Norwegian Data Protection Authority (Datatilsynet) has slapped the telecom giant with a fine and issued a reprimand following an investigation into the company’s handling of privacy compliance.