The European Insurance and Occupational Pensions Authority (EIOPA) has released a follow-up report assessing the progress of insurance supervisory authorities' collaboration across the European Economic Area (EEA). The report, published today, evaluates the implementation of recommendations from a 2020 peer review on EIOPA's Decision regarding supervisory collaboration.
The Commodity Futures Trading Commission (CFTC) has issued an order fining Vitol Inc. and its affiliate, Vitol SA, a combined $500,000 for exceeding federal position limits in crude oil and live cattle futures contracts. This landmark case marks the CFTC's first enforcement action involving aggregate positions across multiple exchanges.
Körber Supply Chain Software announced on August 6 that they have reached an agreement to acquire MercuryGate International Inc., a leading provider of transportation management systems (TMS). Körber, already a global leader in end-to-end supply chain software solutions, is poised with the acquisition to expand their capabilities in delivering comprehensive, innovative, adaptable, and scalable supply chain execution offerings.
The Securities and Exchange Commission (SEC) has charged OTC Link LLC, a New York-based broker-dealer, with failing to file numerous Suspicious Activity Reports (SARs) over a period exceeding three years. The firm has agreed to pay $1.19 million to settle the charges.
The Polish Data Protection Authority (UODO) has levied a substantial fine of approximately $360,000 USD against a major healthcare provider, identified as A. S.A., for multiple violations of the General Data Protection Regulation (GDPR). This decision follows an extensive investigation into a severe data breach that compromised the personal information of around 150,000 individuals, including both patients and employees.
In a major victory for defrauded FTX customers, the Commodity Futures Trading Commission (CFTC) has obtained a historic $12.7 billion judgment against the failed cryptocurrency exchange and its affiliated trading firm Alameda Research.
Banks and investment firms face a multitude of risks - from financial and regulatory to reputational and legal. To address these challenges effectively, institutions must have a comprehensive understanding of not only their internal risks, but also the risks presented by their third-party vendors, suppliers, and clients.