GRC Report Staff

The French Financial Markets Authority (AMF) is leading the charge in using technology to ease the burden of financial market supervision. Over the past couple of years, the AMF has been delving into the world of artificial intelligence (AI), testing how well these tools can automate the processing of regulatory data. This isn’t just about keeping pace with innovation—it’s about creating a smarter, more efficient system for overseeing a rapidly expanding regulatory landscape.

FINRA has recently settled with Redbridge Securities LLC and Network 1 Financial Securities Inc. over notable compliance shortcomings in their operations. Both firms have been fined for deficiencies in their anti-money laundering (AML) programs, customer identification procedures, and supervisory systems. While the penalties are substantial, they reflect the importance of maintaining strong regulatory frameworks within financial institutions.

Robinhood Financial is facing some tough consequences for its failure to meet critical regulatory standards. In an action that marks a significant moment for the fintech giant, FINRA has ordered the company to pay $3.75 million in restitution to impacted customers. Additionally, Robinhood Financial and Robinhood Securities have been hit with a combined $26 million in fines for a series of missteps related to anti-money laundering (AML) practices, trade execution flaws, and other serious compliance issues.

The Securities and Exchange Commission (SEC) unveiled charges against investment advisory firm Momentum Advisors LLC, along with two of its former top figures, Allan J. Boomer and Tiffany L. Hawkins. The charges stem from the pair’s misuse of company and client assets—a breach of the trust that is meant to define fiduciary duty in the investment world.

The European Supervisory Authorities (ESAs)— namely the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA), and the European Securities and Markets Authority (ESMA) — have weighed in on the European Commission’s recent changes to the regulatory framework surrounding subcontracting under the Digital Operational Resilience Act (DORA). And in short, they’re on board.

In an open letter addressed to the European Commission, a coalition of challengers in the search engine and browser markets, alongside civil society organizations and consumer advocates, is calling for action over Google's alleged non-compliance with the Digital Markets Act (DMA). The letter, sent to Executive Vice-President Teresa Ribera Rodríguez and Executive Vice-President Henna Virkkunen, seeks the Commission's intervention to ensure that Google adheres to its obligations under the DMA—specifically, provisions intended to promote competition, improve consumer choice, and ensure a more balanced digital landscape.

Today, the Australian Prudential Regulation Authority (APRA) unveiled a series of proposals that promise to reshape the governance landscape for banks, insurers, and superannuation trustees. It’s been more than a decade since APRA’s last major update to its governance standards, and these new changes are set to address critical gaps in the system—an evolution that is both timely and necessary as the financial environment grows increasingly complex.