GRC Report Staff

The Austrian Financial Market Authority (FMA) has issued an update to the ordinance regarding additional provisions for capital investment risks in premium-subsidized future provision (PZV-ZRV). This regulation establishes specific mathematical formulas and parameters for calculating maximum losses and guarantee amounts related to unhedged equity portions in these specific insurance contracts.

The Securities and Exchange Commission has initiated enforcement proceedings against GlennCap LLC and Jonathan Vincent Glenn. This action signals heightened regulatory scrutiny regarding the conduct of specific investment entities and their principals within the US jurisdiction.

Financial institutions flagged nearly $5 billion in suspicious activity potentially connected to human smuggling between 2023 and 2025, according to an analysis released Thursday by the U.S. Treasury Department’s Financial Crimes Enforcement Network. FinCEN examined 67,540 Bank Secrecy Act reports from the three-year period, looking for the financial patterns that appeared repeatedly around suspected smuggling activity.

Uber Freight says its logistics business is investigating a cybersecurity incident after the hacking and extortion group Helix claimed it had stolen data from the company, according to Reuters, which first reported the incident. An Uber Freight spokesperson told Reuters there had been no impact on business operations and that its systems were operating normally.

A federal court has entered a stipulated order requiring RentGrow to pay a $2.25 million civil penalty and accept an injunction to resolve allegations that its tenant-screening practices violated the Fair Credit Reporting Act and the Federal Trade Commission Act, the Justice Department announced Wednesday. The Federal Trade Commission investigated the case and referred it to the department.

The European Union’s Packaging and Packaging Waste Regulation, known as the PPWR, began to apply across the bloc on Aug. 12, bringing with it restrictions on per- and polyfluoroalkyl substances in food-contact packaging. Packaging containing PFAS above limits set by the regulation can no longer be placed on the EU market.

NewRez LLC has agreed to a $15.5 million multistate settlement after regulators found the mortgage servicer charged more than 4,200 borrowers for force-placed insurance even though they already had active homeowners policies.