GRC Report Staff

The FCA has issued a clone firm warning about themoneycompass.net, which is fraudulently posing as the authorized firm Money Compass Limited (FRN 480594). Consumers who deal with the clone have no access to the Financial Ombudsman Service or the Financial Services Compensation Scheme. Compliance teams should treat this as a fraud typology and a brand-impersonation risk, and update their controls accordingly.

The Hong Kong SFC has endorsed the Chief Executive's first Five-Year Plan and 2026 Policy Address, which prioritize offshore RMB business, asset and wealth management, risk management, and capital markets competitiveness. The release imposes no new obligations, but it signals the direction of future SFC policy. Compliance teams should treat it as an early indicator of coming rule-making and supervisory focus.

Following a May-June 2026 risk-based inspection, Finanstilsynet identified elevated credit risk at Sparekassen Danmark and issued one formal order: the bank's compliance function must assess whether its compliance procedures and methods are effective, rather than relying mainly on document reviews. The solvency requirement was unchanged at 9.5 percent, but the findings show supervisory expectations for second-line testing and credit underwriting discipline that other institutions should heed.

The European Commission has preliminarily found that TikTok breached the European Union's Digital Services Act by failing to adequately assess and address the risks posed by its recommendation algorithm, which regulators say can repeatedly expose users to content involving mental health struggles, eating disorders and body image.

South Korean financial authorities say some listed companies have been suspected of changing the number of directors they appoint or adjusting election schedules to avoid new voting rules intended to strengthen minority shareholder representation. The Financial Services Commission (FSC) and Korea Exchange (KRX) announced revisions to corporate governance disclosure guidelines on November 6, requiring companies to provide more information about board appointments, potentially dilutive share issuances and shareholder returns.

The Federal Court of Australia has ordered Sunshine Loans to pay approximately $3.8 million (AUD 5.5 million) in civil penalties for charging thousands of consumers illegal fees, following a four-year legal battle that included unsuccessful appeals to the Full Federal Court and High Court.

The Norway Financial Supervisory Authority has published a warning about Getliquid365 Finance Limited, which originates from the Dutch Authority for the Financial Markets (AFM) and is categorized under its "boiler room" warnings. Boiler room operations typically involve high-pressure, unsolicited investment sales by unlicensed entities. Compliance teams should treat the entity as a high-risk counterparty and update screening and customer-protection controls accordingly.