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Compliance & Ethics

Bundesbank President Nagel and Villeroy de Galhau Receive Grand Franco-German Media Prize

Bundesbank President Joachim Nagel and former Banque de France Governor François Villeroy de Galhau received the Grand Franco-German Media Prize in Paris for their commitment to European integration. The update is ceremonial and imposes no regulatory obligations. Compliance teams need take no action, though it offers limited context on central bank cooperation and policy tone.

EIOPA Confirms RFR Technical Documentation Error in Credit Spread Sensitivity Ratio Calculation for

EIOPA has acknowledged that Section 9.3 of its RFR Technical Documentation does not align with Article 51(a), paragraphs (2) and (3) of the Delegated Regulation, because it omits that assets and liabilities may be discounted using different curves. Both the omission and the PVBP presentation will be corrected in the next publication. Compliance and actuarial teams should treat the Delegated Regulation as the governing definition when calculating the CSSR for Volatility Adjustment (VA) purposes.

Norway FSA Republishes Warning on GoldPrideHoldings, a Swiss-Linked Unauthorized Entity

The Norway Financial Supervisory Authority has published a warning about GoldPrideHoldings (goldprideholdings.com), with source material pointing to the Swiss regulator FINMA's warning list. Compliance teams should treat the entity as a potential unauthorized or fraudulent financial services provider and update screening and client-protection controls accordingly.

EBA Board of Appeal Member Publishes Declaration of Commitment and Interests for 2026

A member of the Board of Appeal of the European Supervisory Authorities has filed a public declaration of commitment and interests dated June 16, 2026, under Article 59(6) of the ESA founding regulations. The document is a routine governance filing with no new obligations for financial institutions. It matters to compliance teams mainly as a signal of the independence and integrity safeguards that apply to the body that hears appeals against ESA decisions.

EIOPA Clarifies Policy Treatment and Asset Type Guidance for New QRT S.27.03 Reporting

EIOPA has issued a final Q&A (ID 3612) clarifying how undertakings should treat renewed and expired policies in the new QRT S.27.03 and where to find guidance on commercial versus industrial asset types. Expired policies must follow the approach used for comparable datapoints in QRT S.05.01, and asset classification guidance sits in Annex IV of S.06.02. Compliance teams should align data logic and classification rules now to avoid inconsistent submissions.

EIOPA Clarifies Data Timing Behind 3.4bp Deviation in Colombian Peso RFR Curve Replication

EIOPA's Q&A 3507 explains that differences between firms' replicated Colombian peso (COP) risk-free rate curves and the published curve can arise from the timing of market data capture. Less liquid instruments may be updated by data providers after EIOPA's snapshot, and EIOPA identified a 3.4bp deviation at the 1Y maturity in this case. Compliance and actuarial teams that replicate RFR curves for Solvency II purposes should understand this limitation when reconciling their results.

SEC Proposes Amendments to Modernize Proxy Solicitation Rules and Reduce Delivery Requirements

The SEC has proposed amendments that would modernize proxy solicitation rules by eliminating the annual report delivery requirement for registrants, removing the delivery deadline for documents incorporated by reference into proxy statements, and ending certain soliciting material filings. The proposal would also shorten the minimum broker search period. Compliance teams at issuers, broker-dealers, and intermediaries should assess operational impacts now, even though the rules are not yet final.