GRC Report Staff

The insurance industry across the European Union just got a serious regulatory facelift. With new amendments to the Solvency II Directive and the introduction of the Insurance Recovery and Resolution Directive (IRRD), published on January 8, 2025, in the EU’s Official Journal, the rules of the game have shifted. These reforms promise not just a sturdier insurance sector but also a more prepared one—ready to weather crises without leaning on taxpayers to foot the bill.

In a move that could redefine how banks prepare for a greener and more responsible future, the European Banking Authority (EBA) has released its Guidelines on the management of Environmental, Social, and Governance (ESG) risks. Published on January 9, 2025, the 151-page report lays the groundwork for eurozone financial institutions to embed sustainability into their DNA—not just for today but for decades to come.

In a sweeping enforcement action led by a group of state financial regulatory agencies, Bayview Asset Management LLC and three affiliates—Lakeview Loan Servicing, Community Loan Servicing, and Pingora Holdings—will pay a $20 million penalty for deficient cybersecurity practices and non-compliance with state supervisory demands.

In an age where your digital footprint stretches further than your shadow, Denmark’s Data Protection Authority (DPA) is stepping up with a bold plan for 2025. Think of it as a privacy playbook—not just for tech companies or lawmakers, but for everyone navigating the delicate balance between innovation and individual rights.

January 17, 2025, marks the day the Digital Operational Resilience Act (DORA) stops being a talking point and becomes a reality. While financial institutions across Europe have been gearing up for this moment, the Dutch Authority for the Financial Markets (AFM) has outlined its plans for supervision and what firms can expect in the year ahead. If you haven’t started implementing DORA’s requirements yet, you’re already behind.

H&R Block, a household name when it comes to tax season, has found itself in the spotlight for all the wrong reasons. The company recently settled with the Federal Trade Commission (FTC) for $7 million, after being accused of misleading advertising and leaving frustrated customers in its wake. While the fine may seem like a drop in the bucket for a company of H&R Block’s size, the bigger story here is the shift in how tax prep companies might approach consumer relationships and compliance moving forward.

For decades, just-in-time (JIT) manufacturing has been the benchmark for operational efficiency. This approach emphasizes delivering products in the fastest, most cost-effective manner while maintaining a highly visible platform for continuous improvement. JIT supply chains minimize resources—such as space, inventory, and workflows—to essential levels, reducing waste and enabling organizations to convert efforts into revenue with remarkable efficiency. By eliminating excess inventory, redundant systems, and systemic bottlenecks, JIT has become a cornerstone of modern manufacturing operations.