The Hong Kong Monetary Authority (HKMA) has issued a public alert following reports of fraudulent websites and phishing attempts targeting customers of specific banks. Compliance teams must monitor these developments to ensure customer communication strategies align with regulatory expectations regarding fraud prevention.
The Danish Financial Supervisory Authority (Finanstilsynet) completed a functional inspection of BI Management A/S focusing on compliance with PRIIP regulation. While the inspection resulted in no supervisory reactions, it underscores the regulator's focus on investor information accuracy and standardization.
The Financial Conduct Authority (FCA) has issued an instrument to amend the COLL and FUND handbooks, specifically refining definitions related to dilution and liquidity. These changes impact how authorized fund managers disclose policies regarding dealing costs and manage the liquidity risks of transferable securities.
The New York Department of Financial Services (NYDFS) has issued updated guidance regarding mandatory data call and reporting obligations for property and casualty insurers. Compliance teams must ensure they are utilizing the most recent report versions and accurately determining their filing obligations based on specific underwriting activities in New York.
The European Securities and Markets Authority (ESMA) has released an updated registry of ESG rating providers officially registered under Article 5 of Regulation (EU) 2024/3005. This update provides transparency regarding the legal status and establishment details of entities authorized to provide ESG ratings within the EU jurisdiction.
The Federal Reserve Board has executed an enforcement action against Elazia Jones, a former employee of Regions Bank, via a consent prohibition. This action stems from involvement in check fraud, highlighting the ongoing regulatory focus on individual accountability and internal fraud prevention.
FinCEN released a Financial Trend Analysis revealing that financial institutions flagged nearly USD $5 Billion in transactions linked to suspected human smuggling between 2 and 2025. While Money Services Businesses (MSBs) filed the highest volume of reports, depository institutions accounted for 61 percent of the total suspicious activity amount.
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