GRC Report Staff

The Board of Appeal of the European Supervisory Authorities (ESAs) published a declaration of commitment and interests from an alternate member, as required under Article 59(6) of the ESA founding regulations. The document is routine and creates no new obligations for financial institutions, but it reflects the independence safeguards that support the credibility of Board of Appeal decisions. Compliance teams should treat it as a governance reference point, not an action item.

The Deutsche Bundesbank reports that German credit institutions posted aggregated pre-tax profit of EUR $52.3 Billion in 2025, the third consecutive year of high earnings, with operating income at a record EUR $172.5 Billion. Growth was driven largely by one major bank, and the Bundesbank warns that credit risk, cyber threats, and competitive pressure will keep 2026 challenging. Compliance and risk teams should treat the report as a supervisory signal on where scrutiny is likely to focus, not as a source of new obligations.

Japan's Financial Services Agency promulgated Cabinet Office Ordinances implementing parts of the 2023 amendments to the Financial Instruments and Exchange Act (FIEA) and the Act on Transfer of Corporate Bonds, Stocks, etc. The ordinances establish the matters needed to digitize adjudication procedures for administrative monetary penalty payment orders under the FIEA and the Certified Public Accountants Act, and take effect on November 30, 2026. Compliance teams should prepare for electronic handling of enforcement-related proceedings.

ASIC's Form 206 is the mandatory application for changing a company's type under sections 162-167AA of the Corporations Act 2001, such as converting between proprietary, public, unlimited, no liability, and guarantee structures. Each conversion path carries its own signature, attachment, and special resolution requirements. Compliance teams should verify the correct pathway before lodging to avoid rejected or delayed applications.

ASIC's Form 5289 is the prescribed notice that a CCIV (Corporate Collective Investment Vehicle) sub-fund's responsible person must lodge when fees and charges in the PDS's enhanced fee disclosure table change. The lodgement window is short, at 5 business days, and late fees apply. Compliance teams should confirm that fee-change processes trigger this notice on time.

ASIC's Form 5202 is the mandatory application used to register an additional sub-fund of an already-registered corporate collective investment vehicle (CCIV) under section 1222U of the Corporations Act 2001. It carries no lodgement fee or fixed deadline, but it requires detailed disclosures on investment strategy, asset types, share structure, and members, and it must be signed by an officer of the corporate director. Compliance teams should confirm that internal controls cover accuracy, consents, and naming rules before lodgement. Note that the form version is dated 1 July 2022, so this appears to be a republished existing form and not a new regulatory change.

EIOPA has confirmed that a fund investing predominantly in listed securities of issuers that primarily make or manage private equity or private debt should be classified under CIC 47 (Private Equity Funds) in Solvency II template S.06.02. Because the fund is listed, the CIC country prefix must reflect the listing venue, or be XV if the fund is listed in multiple countries. Insurers and asset managers should review their investment fund classifications to ensure consistent and accurate regulatory reporting.