GRC Report Staff

At the IIF-CBA Canada Forum 2026, OSFI Deputy Superintendent Angie Radiskovic described a sustained modernization agenda. It includes an indefinite pause on key Basel III elements, a lower Domestic Stability Buffer, reduced risk weights for SME and construction exposures, and a more tailored supervisory approach. Compliance teams should treat these remarks as signals of OSFI's calibration priorities and update capital planning, supervisory engagement, and regulatory change monitoring accordingly.

The ECB has raised interest rates for the second time this year, to 2.5%, citing persistent energy-driven inflation and stronger-than-expected economic resilience. Its forecast shows euro area inflation reaching 3% this year before easing to 2.1% in 2028, with significant scenario-based uncertainty. Compliance and risk teams should reassess interest rate, credit, and conduct risk exposures ahead of the next meeting on October 28 and 29, 2026.

The Bank of England's August 2026 Inflation Attitudes Survey, the first conducted by Savanta in place of Ipsos, shows median one-year inflation expectations falling to 3.2% from 4.0% in May. A parallel run shows that part of the decline reflects the provider change rather than a true shift in sentiment. Compliance and risk teams should treat quarter-on-quarter comparisons with caution when using this data in models, stress scenarios, or customer-facing materials.

The Norway Financial Supervisory Authority (Finanstilsynet) has published a warning about "Novatrust-asset," referencing a related UK Financial Conduct Authority (FCA) warning. Compliance teams should treat the entity as a likely unauthorized or fraudulent firm and screen for any exposure or contact.

The UK Information Commissioner's Office (ICO) has confirmed a live investigation into whether Police Scotland is meeting its legal obligations when handling subject access requests (SARs), including statutory response timescales. Although the matter concerns a law enforcement body, it signals continued regulatory focus on SAR compliance that financial institutions should treat as a prompt to review their own processes.

The OCC, Federal Reserve, and FDIC jointly issued a statement clarifying how they will apply risk-based supervision to certain services core providers deliver to community banking organizations. The statement outlines factors the agencies will weigh in supervisory and enforcement decisions, including where a core provider causes a bank to engage in unsafe or unsound practices or violations of law. Community banks and their compliance teams should reassess core provider oversight and contract practices.

The ACPR and AMF will host the 10th-anniversary Fintech Forum on October 2, 2026, at the Bank of France Conference Center in Paris, as part of the French FinTech Weeks. The agenda signals current supervisory priorities, including tokenization and DLT, MiCA, AML/CFT, digital operational resilience, crowdfunding, and payment services. It offers compliance teams direct access to French regulators.