GRC Report Staff

The U.S. Department of Justice (DOJ) has recently reached settlements in three significant False Claims Act (FCA) cases, securing substantial financial penalties against major organizations in healthcare and defense contracting. These cases not only highlight the government’s commitment to protecting taxpayer dollars but also underscore the importance of accountability in sectors that handle large sums of public funds.

The Hong Kong Monetary Authority (HKMA) has released its Annual and Sustainability Reports, showcasing how the city’s financial sector is not only navigating the complexities of a changing global economy but also positioning itself at the forefront of green finance and innovation. Through a year of strategic initiatives, the HKMA has embraced resilience in the face of economic volatility and shown a steadfast commitment to sustainable growth, ensuring that Hong Kong’s financial ecosystem remains robust and adaptable.

The Canadian Securities Administrators (CSA) announced recently that it’s temporarily pressing pause on two highly anticipated projects: the development of mandatory climate-related disclosure rules and changes to diversity-related disclosure requirements. The decision, which comes at a time of mounting geopolitical and economic uncertainty, signals the CSA’s focus on supporting Canadian businesses as they navigate the fast-moving, sometimes turbulent, regulatory landscape.

Cybersecurity is no longer just an IT problem, it’s a business problem. And yet, despite all the headlines and constant warnings, a concerning gap remains between the leaders of organizations and the people tasked with defending them from cyber threats. New research from Ernst & Young LLP (EY) has uncovered this alarming disconnect, revealing how the divide between C-suite executives and Chief Information Security Officers (CISOs) is putting organizations at risk.

Vault Medical Services has agreed to pay $8 million to resolve allegations that the company violated the False Claims Act by submitting fraudulent claims to the HRSA COVID-19 Uninsured Program. This program was meant to assist uninsured individuals with testing, treatment, and vaccines during the pandemic.

The European Data Protection Board (EDPB) has released its 2024 Annual Report, showcasing the organization’s significant contributions to safeguarding personal data in an evolving digital landscape. The report highlights key milestones, including the adoption of a new strategy, an increase in consistency opinions under the General Data Protection Regulation (GDPR), and continued guidance on emerging issues like AI, facial recognition, and cross-border data transfers.

Three of the country’s major pork producers have agreed to settle a long-running class-action lawsuit over alleged price-fixing, contributing a combined $64 million to resolve claims that they conspired to inflate pork prices. The agreement, filed in federal court in Minnesota this week, brings the total recovery in the case to over $180 million and adds a new chapter to one of the largest antitrust battles in the food industry.