GRC Report Staff

APRA and ASIC have opened consultation on reducing FAR reporting obligations, including removing key functions requirements from the regulator rules and dropping direct report information from accountability maps. The regulators estimate the changes would cut reporting for all accountable entities and about 4500 accountable people, and halve the number of accountability map updates. Compliance teams should assess operational impacts now and consider submitting feedback before finalization, targeted for the end of 2026.

The Norway Financial Supervisory Authority has listed a warning on "Alpha Wealth Management Luxembourg," which originates from Luxembourg's financial regulator, the CSSF, and concerns the website www.alphawealthmanagement.capital. Compliance teams should treat the entity as a likely unauthorized or fraudulent operator and update screening and client-protection controls accordingly.

Finanstilsynet (the Norway Financial Supervisory Authority) has issued a warning about "Bond Rate Compare (Clone)," a UK-linked entity that appears to impersonate a legitimate FCA-authorised firm. The notice reflects a cross-border investor warning pattern, and compliance teams should treat it as a fraud and impersonation alert that calls for screening and customer-protection measures.

In a keynote at the Geneva Association PROGRES-Seminar, EIOPA argued that keeping risks insurable requires earlier risk identification, broader risk sharing, and responsible transformation. The speech introduces no binding requirements. It does signal supervisory focus on private credit and funded reinsurance, natural catastrophe protection gaps, AI and ICT concentration risk, value for money, and a possible shift toward principles- and outcomes-based regulation. Compliance teams should treat it as a forward-looking indicator of supervisory expectations.

The Norwegian Financial Supervisory Authority (Finanstilsynet) has listed a warning about "Isladova" that was originally issued by Luxembourg's CSSF concerning the website www.isladova.com. Compliance teams should treat the entity and its domain as a potential unauthorized or fraudulent actor and update screening and monitoring controls accordingly.

The Norway Financial Supervisory Authority (Finanstilsynet) has republished a warning, originally issued by the UK Financial Conduct Authority (FCA), about a clone of an FCA-authorized firm operating as "6 Trinity Street Investment Club." Clone firms use the identity of legitimate authorized entities to defraud investors, so compliance teams should update screening controls and client-facing fraud alerts.

The Norway Financial Supervisory Authority (Finanstilsynet) has published a warning about "Choice Finance UK," which the UK Financial Conduct Authority (FCA) has identified as a clone of an FCA-registered firm. Compliance teams should treat the entity as a likely fraud vehicle and update screening and client-protection controls accordingly.