GRC Report Staff

The Chancellor and His Majesty the King have appointed David Craig, Paul Nowak, and Hanneke Smits as non-executive directors of the Bank of England's Court of Directors. Lord Jitesh Gadhia and Tom Shropshire have been reappointed. The update involves no new regulatory obligations. It matters to compliance teams as a signal of governance priorities and leadership at the UK's central bank and prudential authority.

The document is ASIC Form 991/992 (version dated 13 May 2015), which companies use under Section 1301 of the Corporations Act 2001 to notify ASIC where books and records kept otherwise than in writing are stored on computer and where they may be inspected. It is a standing administrative form, not a new rule, so no new obligations appear to be introduced. It still matters because inaccurate or outdated location notices can create record-keeping and inspection-access exposure.

The Deutsche Bundesbank, acting for the German federal government, will tap the 2.90% Federal Bond Series 194 (2031) by a target of EUR $5 Billion, including the market maintenance quota, on September 22, 2026. The current outstanding volume is EUR $17.5 Billion. This is a routine issuance event, but it carries operational, liquidity, and reporting implications for institutions that bid or hold German sovereign paper.

The Securities and Exchange Commission brought 348 enforcement actions during fiscal year 2026, obtained orders for nearly $1.1 billion in monetary relief, and charged individuals in two-thirds of its standalone cases. The figures, released Tuesday, describe an enforcement program that spent much of the year pursuing familiar forms of misconduct while making substantial changes to the way it investigates them.

Switzerland's financial regulator has narrowed the application of a provision governing correspondent banking relationships with foreign banks, one of several clarifications included in anti-money laundering rules finalized Tuesday ahead of their implementation next year.

A promise of a full refund has cost Polish supermarket chain Biedronka nearly $21.5 million (PLN 84 million) after a court upheld findings that the retailer deliberately misled customers about the terms of its promotional offers. Poland's Court of Competition and Consumer Protection agreed with the country's competition and consumer protection authority, UOKiK, that Biedronka's “Special Wednesday” and “Valentine's Wednesday” campaigns violated consumer protection law. The promotions advertised a “100% refund in the form of a voucher,” without adequately explaining that customers would have to meet additional conditions to use the vouchers.

ASIC Form 296 is the prescribed notice for reporting that a person is disqualified from managing corporations because of bankruptcy or a personal insolvency agreement under sections 206B(3) and (4) of the Corporations Act 2001. The form must be lodged as soon as possible, with no lodgement fee. Compliance teams should confirm that their escalation and lodgement processes for officer insolvency events are in place and working. The document is a form and guide, not a new rule, and the form dates from 2011 while the guide dates from 2015, despite the 2026 publication date.