GRC Report Staff

The SEC has approved FINRA's proposed amendment to Rule 4515.01, eliminating the principal approval requirement for all investment adviser bulk order allocations regardless of when allocation instructions are received. This change, effective immediately upon approval, reduces operational burdens for member firms while relying on T+1 settlement infrastructure, Rule 15c6-2 allocation requirements, and existing fiduciary and anti-fraud provisions to maintain investor protections.

The Norway Financial Supervisory Authority has issued a warning identifying "Aseviaventure" as a cloned entity, originally flagged by Spain's CNMV, which is operating without proper authorization. Compliance teams should treat this as a boiler-room/clone-firm risk indicator and ensure this entity name is screened against client and counterparty records.

The Luxembourg financial regulator (CSSF) has issued a public warning alerting market participants to fraudulent activities by unauthorized persons misusing the name of Clearstream Banking S.A. Compliance teams should treat any unsolicited communications referencing Clearstream with heightened scrutiny and verify authenticity through official channels before engaging.

BaFin has issued a public warning against the website 37mh(.)com, which is offering cryptocurrency services in Germany without the required authorization and falsely claiming BaFin supervision. This serves as a reminder to compliance teams of ongoing enforcement against unlicensed crypto operators and the importance of verifying regulatory claims made by third parties or counterparties.

The Norway Financial Supervisory Authority, referencing an alert from Spain's CNMV, has issued a warning identifying "IBROKERGM" as a clone entity falsely claiming association with an authorized financial services provider. Compliance teams should treat this as an active consumer-protection and fraud-prevention alert requiring immediate screening against client and counterparty databases.

The Norway Financial Supervisory Authority has issued a warning alerting consumers and firms to a clone entity fraudulently using the identity of an FCA-authorized firm under the domain gsbcapital.pro. This is a cross-border replication of a UK Financial Conduct Authority (FCA) warning, highlighting the ongoing risk of clone firm scams targeting investors across jurisdictions. Compliance teams should treat this as an operational and reputational risk alert rather than a new regulatory requirement.

The Dutch Data Protection Authority has completed its mandatory GDPR Article 36(4) legislative review of the draft Data Governance Regulation Implementation Regulation and raised no objections. This clears a key regulatory checkpoint for the decree's progression, signaling that the Dutch government's approach to implementing the EU Data Governance Regulation aligns with GDPR principles and fundamental rights protections.