The Bank of England’s Prudential Regulation Authority has issued a refreshed set of expectations for how banks and insurers manage climate-related risks, a big shift from early awareness-building to full integration in risk processes.
A U.S. audit firm has been hit with regulatory sanctions after federal oversight officials found it leaned on an unregistered China-based firm to handle major portions of its audit work and failed to properly supervise or disclose that involvement.
Securities America for years failed to properly supervise the sale and switching of Class A mutual funds, leading investors to pay more than $2 million in avoidable costs, according to the Financial Industry Regulatory Authority (FINRA). In a settlement finalized through a Letter of Acceptance, Waiver, and Consent, which the firm neither admitted nor denied, FINRA issued a censure, a $1 million fine, and $2,019,040 in restitution to impacted customers. Interest will also be added to each payment.
The UK’s online safety regulator is making an example of adult content providers who still allow children to stumble onto explicit material with little more than a checkbox standing in their way. On Thursday, Ofcom announced a £1 million fine against AVS Group, the operator of 18 adult websites, after concluding the company had failed to put “highly effective” age assurance in place, a new legal requirement under the landmark Online Safety Act.
The EU’s deforestation law, already the subject of years of political wrangling and industry pushback, is heading for yet another delayed start and a more streamlined design, after Parliament and Council negotiators reached a provisional agreement to postpone and simplify its core requirements.
The European Commission issued its first enforcement actions under the Digital Services Act (DSA) on Wednesday, placing two of the world’s largest platforms on very different tracks toward compliance.
Ransomware has never been more costly. That’s the message from a new Financial Trend Analysis released Wednesday by the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN), which found that attackers drained more than $2.1 billion from victims between 2022 and 2024. The report examines ransomware activity by the date of each incident, offering the clearest look yet at how aggressively cybercriminals have scaled their extortion campaigns.