GRC Report Staff

The European Securities and Markets Authority (ESMA), the EU's financial markets regulator and supervisor, has issued a statement providing initial guidance to firms using Artificial Intelligence (AI) technologies when providing investment services to retail clients. This guidance comes amidst the European Union's recent approval of the groundbreaking AI Act, a comprehensive rulebook governing AI applications across the 27-nation bloc.

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has taken action against two companies linked to the Russian private military company known as the Wagner Group, in an effort to counter Russia's destabilizing activities in Africa, particularly in the Central African Republic (CAR).

Toronto-Dominion Bank is racing to overhaul its troubled anti-money laundering controls in the United States, but the costly remediation effort could drag into 2025, executives warned during the bank's latest earnings call.

A significant portion of the global economy is moving to adopt or align with the sustainability disclosure standards issued by the International Sustainability Standards Board (ISSB).

The UK's Information Commissioner's Office (ICO) has announced its intention to fine the Police Service of Northern Ireland (PSNI) £750,000 for failing to protect the personal information of its entire workforce.

The Financial Industry Regulatory Authority (FINRA) has taken disciplinary action against Thrivent Investment Management Inc. for failing to establish and maintain a supervisory system reasonably designed to detect potential signature forgery or falsification of electronic signatures.

The Autorité des Marchés Financiers (AMF), France's financial markets regulator, published its 2023 Annual Report this week, highlighting the progress made last year in line with its strategic priorities for 2023-2027 and its resolve to stay on track in 2024.