GRC Report Staff

Following a May-June 2026 risk-based inspection, Finanstilsynet identified elevated credit risk at Sparekassen Danmark and issued one formal order: the bank's compliance function must assess whether its compliance procedures and methods are effective, rather than relying mainly on document reviews. The solvency requirement was unchanged at 9.5 percent, but the findings show supervisory expectations for second-line testing and credit underwriting discipline that other institutions should heed.

The European Commission has preliminarily found that TikTok breached the European Union's Digital Services Act by failing to adequately assess and address the risks posed by its recommendation algorithm, which regulators say can repeatedly expose users to content involving mental health struggles, eating disorders and body image.

South Korean financial authorities say some listed companies have been suspected of changing the number of directors they appoint or adjusting election schedules to avoid new voting rules intended to strengthen minority shareholder representation. The Financial Services Commission (FSC) and Korea Exchange (KRX) announced revisions to corporate governance disclosure guidelines on November 6, requiring companies to provide more information about board appointments, potentially dilutive share issuances and shareholder returns.

The Federal Court of Australia has ordered Sunshine Loans to pay approximately $3.8 million (AUD 5.5 million) in civil penalties for charging thousands of consumers illegal fees, following a four-year legal battle that included unsuccessful appeals to the Full Federal Court and High Court.

The Norway Financial Supervisory Authority has published a warning about Getliquid365 Finance Limited, which originates from the Dutch Authority for the Financial Markets (AFM) and is categorized under its "boiler room" warnings. Boiler room operations typically involve high-pressure, unsolicited investment sales by unlicensed entities. Compliance teams should treat the entity as a high-risk counterparty and update screening and customer-protection controls accordingly.

The Deutsche Bundesbank published results of the September 16, 2026 multi-ISIN auction increasing two German federal bonds (maturing 2047 and 2056) by a combined EUR $2.5 Billion in planned volume. Allocations were EUR $863.82 Million and EUR $1,257.41 Million, with average yields near 3.9%. This is a market-information release, not a regulatory mandate, but it is relevant to treasury, liquidity, and valuation controls.

The Norway Financial Supervisory Authority (Finanstilsynet) has listed a warning on WireBroker, with the issuing authority shown as Portugal and a link pointing to the Portuguese securities regulator (CMVM) investor portal. The source content is minimal, so the specific allegations are not stated in the text provided. Compliance teams should treat WireBroker as a potentially unauthorized or fraudulent investment services provider and screen for any exposure.