GRC Report Staff

When you think about the equipment that keeps our military running smoothly, you might imagine high-tech gear, advanced weaponry, and well-oiled machinery. What’s often less visible, though, are the parts that make all of this work—like electrical relays and sockets. DRI Relays Inc. (DRI), a subsidiary of TE Connectivity Corporation (TEC), has found itself in the spotlight over a failure to meet the very standards that keep those parts dependable for our armed forces. The company has agreed to pay $15.7 million to settle allegations under the False Claims Act, after it was accused of selling military parts that didn’t meet the required specifications.

The Public Company Accounting Oversight Board (PCAOB) just dropped its 2024 annual report, and it's clear they’ve been busy making real moves in the audit space. From faster inspection results to tougher accountability for bad actors, this year's report showcases some significant changes aimed at strengthening trust in the auditing process—and, of course, protecting investors. Here’s the lowdown on what the PCAOB is doing to shake up the audit world in 2024.

In an effort to further refine and enhance Europe’s financial infrastructure, the Joint Committee (JC) of the European Supervisory Authorities (ESAs) has just published its evaluation report on the EU’s Securitization Regulation (SECR). The report, which arrives at a crucial moment for the European financial markets, offers a comprehensive review of how the regulation has been performing and lays out several key recommendations for making Europe’s securitization framework more effective, transparent, and investor-friendly.

The Office of the Comptroller of the Currency (OCC) has announced its withdrawal from the interagency principles for climate-related financial risk management for large financial institutions, signaling a shift in its regulatory approach.

Diopsys Inc., a medical device company based in Pennsylvania, is reaching into its coffers to settle a significant legal matter, agreeing to pay up to $14.25 million to resolve allegations of submitting false claims to Medicare and Medicaid. The claims were tied to the company’s NOVA device, a piece of equipment cleared by the FDA for visual evoked potential (VEP) testing. But it turns out, the device was being used in ways it wasn’t approved for—something the government says led to false claims for payment from both Medicare and Medicaid.

The financial landscape in Europe is facing increased pressure, as a combination of geopolitical tensions and escalating cyber risks poses a significant threat to the stability of the EU's financial system. This warning comes from the European Supervisory Authorities (ESAs) in their Spring 2025 Joint Committee update, released today. The EBA, EIOPA, and ESMA are calling for heightened vigilance and a proactive approach to safeguard the future of Europe's financial institutions and markets.