GRC Report Staff

Japan’s financial regulator has set out a path for how sustainability reporting will evolve from a compliance requirement into something closer to financial reporting in both structure and scrutiny. The Financial Services Agency (FSA) on January 8 published a report and accompanying roadmap detailing how companies will be required to adopt standardized sustainability disclosures, and, crucially, how those disclosures will eventually need to be independently assured.

There’s a difference between getting it wrong and waiting too long to admit it. For Electro Optic Systems Holdings Limited, that delay has now cost the company $2.83 million (AUD $4 million) after the Federal Court found it failed to promptly update the market on a sharp downgrade to its 2022 revenue outlook.

The European Parliament has signed off on a sweeping set of anti-corruption rules that aim to bring long-fragmented national approaches into closer alignment, setting a common baseline for how corruption is defined, prosecuted, and punished across the European Union.

The U.S. Department of Justice has secured a guilty plea from Florida-based insurance brokerage AP of South Florida (APSF) and a $107 million civil settlement with AssuredPartners, Inc., marking one of the more striking enforcement actions tied to fraud in the Affordable Care Act marketplace in recent years.

In a joint proposal released Wednesday, the Financial Crimes Enforcement Network and the Office of Foreign Assets Control laid out how payment stablecoin issuers would be brought under anti-money laundering and sanctions rules through the GENIUS Act. The direction of travel is straightforward. If you issue a payment stablecoin in the U.S., you should expect to operate more like a bank than a tech platform.

The Swiss Federal Council has opened a consultation on a proposed Federal Act on Sustainable Business Management, setting out a new framework that would require large Swiss companies to strengthen oversight of human rights and environmental risks in their operations.

The Netherlands Authority for the Financial Markets has warned that artificial intelligence is being adopted rapidly across the Dutch asset management sector, but many firms are still falling short on governance, policy, and internal controls.