GRC Report Staff

Treasury Warns Banks of Sanctions Risks Tied to China’s ‘Teapot’ Refineries & Iranian Oil Trade

The U.S. Department of the Treasury is cautioning financial institutions about growing sanctions exposure linked to China’s independent “teapot” oil refineries, underscoring their continued role in importing and refining Iranian crude.

EU Moves to Untangle the Overlap Between Competition & Data Protection Law

The European Commission and the European Data Protection Board (EDPB) recently confirmed that they will begin joint work to develop guidance on how competition laws and data protection interact. The effort is aimed at clarifying how each body of law applies in situations where their boundaries blur, an increasingly common reality in a data-driven economy.

Italian Regulator Fines Snack Makers €23 Million Over Private Label Cartel

Italy’s antitrust regulator has handed down more than €23 million in fines to three of the country’s leading snack manufacturers, concluding that they coordinated their behavior in a market-sharing arrangement that limited competition in the private label sector.

EU Push to Open Android Signals Next Front in AI Competition Battle

The European Commission is turning to how artificial intelligence operates on mobile devices, unveiling preliminary measures that could force Google to open up key parts of its Android ecosystem to rival AI services.

FCA Turns to Industry as It Tests Future ESG Ratings Reporting Rules

The Financial Conduct Authority is asking ESG rating providers to help shape the future of regulation in the sector, launching a voluntary reporting pilot aimed at testing how forthcoming disclosure requirements might work in practice.

CFTC Takes Fight to New York as Federal-State Clash Over Prediction Markets Deepens

The Commodity Futures Trading Commission has opened a new front in its escalating battle with state regulators, filing suit against New York in a bid to halt what it describes as unlawful encroachment on its authority over prediction markets.

EU Lawmakers Enter Crucial AI Negotiations as Push Builds for Pre-August Rule Changes

European lawmakers are heading into a decisive round of negotiations this week that could reshape key elements of the bloc’s artificial intelligence rulebook and accelerate how quickly those changes take effect.