GRC Report Staff

The FCA has permanently banned Nurul Miah, also known as Neil Mia and Neil Miah, from working in financial services after the SRA found he dishonestly caused or allowed more than GBP $28 Million of client money to be taken from client accounts. The case shows that findings by another regulator can lead directly to FCA prohibition, even when the misconduct occurred outside an FCA-regulated firm. Compliance teams should treat it as a reminder to strengthen fitness and propriety screening and ongoing monitoring of approved persons.

The SEC upgraded EDGAR to Release 26.3 on September 14, 2026, adding support for the 2026q3 Fund (FND) taxonomy and ending acceptance of all 2024 taxonomy versions, including quarterly releases. Filers still using 2024 taxonomies in their XBRL submissions risk filing rejections, so compliance and reporting teams should confirm their filing tools and templates are updated.

At the 10th Global Conference on Criminal Finances and Cryptoassets in Luxembourg, AMLA Executive Board Member Simonas Krepšta identified crypto assets as a strategic priority and outlined the Crypto Action Plan for 2026 and beyond. The message for compliance teams is that regulation alone is not enough: AMLA expects effective implementation, convergent supervision and stronger analytics across the EU crypto sector. Firms should anticipate closer supervisory scrutiny and a forthcoming AMLA report on crypto ML/TF risks.

ASIC has published Form 562, the notice a court-appointed liquidator uses to tell ASIC that the time to submit a report on a company's activities and property has been extended under s475(7)(b) of the Corporations Act 2001. The form is a routine administrative document, not a new obligation. Compliance teams that deal with insolvent counterparties or act as liquidators or advisers should understand its role in the reporting process.

The FCA has refreshed its operational resilience page to add frontier AI resources and to flag new incident and third party reporting requirements taking effect on 18 March 2027. The existing operational resilience rules remain fully in force, with the March 2025 compliance deadline now past. Compliance teams should confirm they can remain within impact tolerances and begin preparing for the new reporting regime.

ASIC has published Form 520, the Declaration of Solvency that a majority of directors must sign and lodge under section 494 of the Corporations Act 2001 before a company enters a members' voluntary winding up. The declaration carries personal exposure for directors, because it attests that the company can pay its debts in full within 12 months of the winding up commencing. Compliance and legal teams handling entity rationalization or restructuring should confirm their internal processes support an accurate, properly supported declaration.

Japan's Financial Services Agency promulgated Cabinet Office Ordinance amendments under the Financial Instruments and Exchange Act (FIEA) that relax rules on group company bond solicitation and on domestic venture funds investing in overseas venture funds, and that designate rights in depositary receipts without physical certificates as securities. The first two amendments take effect September 16, 2026, and the third on October 5, 2026, so compliance teams have little time to assess impacts and update procedures.