GRC Report Staff

Acting Comptroller of the Currency Michael J. Hsu delivered a thought-provoking address at CBA LIVE 2024, hosted by the Consumer Bankers Association, focusing on the pivotal role of fairness in enhancing compliance risk management within the banking sector. The event, held under the theme "For the People," underscored the imperative of prioritizing the needs of individuals and communities amidst evolving regulatory landscapes and technological advancements.

The European Commission is poised to launch investigations into tech giants Apple, Meta Platforms (formerly Facebook), and Alphabet's Google over potential violations of the European Union's Digital Markets Act (DMA), according to Reuters and sources familiar with the matter.

In response to the European Union's Digital Markets Act (DMA) coming into force, Google is making significant alterations to its operations. The move aims to ensure compliance with the new regulations and marks a pivotal moment in the tech giant's approach to business in the European Economic Area (EEA).

The U.S. Environmental Protection Agency (EPA) has unveiled the final national pollution standards for passenger cars, light-duty trucks, and medium-duty vehicles, setting a new benchmark for climate action in the United States. These regulations, spanning model years 2027 through 2032 and beyond, promise to revolutionize the automotive industry while significantly curbing carbon emissions.

The Autorité de la concurrence has imposed a hefty fine of €250 million on Alphabet Inc., Google LLC, Google Ireland Ltd, and Google France, collectively referred to as "Google." This fine comes as a consequence of Google's failure to comply with certain commitments outlined in Decision 22-D-13 of 21 June 2022.

The Fifth Circuit Court of Appeals has issued an administrative stay of the Securities and Exchange Commission's (SEC) much-discussed climate disclosure rule. This rule, which was unveiled on March 6, 2024, aimed to compel public companies to provide enhanced disclosures regarding the risks they encounter due to climate change.

The European Data Protection Board (EDPB) has initiated its Coordinated Enforcement Framework (CEF) action for the year 2024, focusing on the implementation of the right of access across the European Economic Area (EEA). This concerted effort involves 31 Data Protection Authorities (DPAs), including 7 German State-level DPAs, aimed at ensuring compliance with Article 15 of the General Data Protection Regulation (GDPR).