GRC Report Staff

Finansinspektionen (the Swedish FSA) has responded to the Swedish National Debt Office's consultation on a proposed policy for assessing whether a bank should be managed in resolution. It largely supports the policy's design but raises unspecified comments. Compliance and recovery and resolution planning teams should monitor the final policy, since it will clarify which banks are treated as resolution banks.

Sweden's Finansinspektionen (FI) has notified the EBA that it intends to comply with the amended Guidelines on the application of the definition of default (EBA/GL/2026/05), which take effect on 19 October 2026. The guidelines apply to institutions using either the standardized or internal approach for credit risk capital requirements. Compliance teams at Swedish-supervised institutions should treat the guidelines as the expected supervisory standard and finalize implementation plans now.

BaFin has issued a warning about unauthorized financial and securities services offered through emails from a Gmail address (herrywhite569@gmail[.]com) whose operator falsely claims to be FxPro UK Limited. Two legitimate firms, one FCA-authorized and one CySEC-regulated, are victims of identity theft and have no connection to the sender. Compliance teams should treat this as a fraud typology and impersonation alert and update their screening, monitoring, and customer-awareness controls.

CFTC Letter 26-25 extends the no-action position first granted to Phantom Technologies in Letter 26-09 to all passive software providers (PSPs) that enable trading in CFTC-regulated derivatives. PSPs will not face a staff recommendation for enforcement for failing to register as introducing brokers (IBs) or associated persons (APs), provided they meet ten conditions. Compliance teams at PSPs and at the DCMs, FCMs, and IBs that work with them need to assess eligibility and put the required documentation in place.

The SEC approved a temporary, conditional exemption allowing limited trading of tokenized NMS stocks on onchain Tokenized Securities Venues (TSVs) without those venues being treated as "exchanges" under the Exchange Act. Commissioner Uyeda's statement frames the relief as a controlled experiment to inform future rulemaking and invites detailed public comment. Compliance teams at firms considering tokenized market activity should assess eligibility, conditions, and commenting opportunities now.

CFTC staff (DCR and MPD) will not recommend enforcement action against Eurex Clearing or its FCM clearing members for holding customer securities as cleared swap margin at Clearstream Banking S.A. (CBL) in Luxembourg, despite Regulations 1.49(c)(1), 1.49(e)(1)(i), and 22.9. The relief carries seven conditions, including customer disclosures, a six-jurisdiction collateral restriction, and annual custody-chain due diligence. FCMs and customers need to confirm they can meet these conditions before relying on it.

The FCA has issued a warning about NovaTask, an unauthorized clone firm that is impersonating the FCA-authorized Nova Business Finance Ltd (FRN 1016336) to solicit consumers. Compliance teams should treat the listed identifiers as indicators of fraud for screening, monitoring, and customer-protection purposes, because clone firm scams can lead to customer losses, reputational harm, and payment-related fraud exposure.