Compliance & Ethics

The Norway Financial Supervisory Authority (Finanstilsynet) has published a warning about Ava Global Trade Center, an entity originally flagged by the Netherlands Authority for the Financial Markets (AFM) as a suspected "boiler room" investment fraud. Compliance teams should treat the entity as high risk for investment fraud and screen for any exposure to customers, counterparties, or transactions connected to it.

A member or alternate member of the Board of Appeal of the European Supervisory Authorities (ESAs), Michele Siri, has filed a routine declaration of commitment and interests under Article 59(6) of the ESA founding regulations. The declaration affirms independence and the absence of conflicting interests, and it will be entered in a public register. It is a governance item with no new obligations for firms, but it is relevant for teams that track the integrity of the appeals process.

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 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.

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.

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 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.