GRC Report Staff

The New York Department of Financial Services examined the Segregated Gift Annuity Fund of the Emma Willard School for 2020–2024 and found that the Fund failed to correct governance deficiencies cited in its prior 2019 report, including a lack of documented board oversight of investment policy and delegated management. The report also identifies form-use errors in gift annuity agreements, underscoring recurring weaknesses in both governance recordkeeping and product documentation controls relevant to charitable annuity issuers.

Austria's FMA has fined Liechtensteinische Landesbank (Österreich) AG EUR 244,000 for breaches of the Securities Supervision Act 2018 (WAG 2018) and Delegated Regulation (EU) 2017/565, citing inadequate training procedures for producing compliant suitability declarations. The decision is not yet final and may be subject to appeal, but it underscores ongoing regulatory scrutiny of investment firms' internal organizational controls in the EU/EEA.

The Monetary Authority of Singapore has launched a public consultation proposing legislative amendments to the Payment Services Act 2019 to formally regulate stablecoins, updating its approach in light of market developments since 2023. Compliance teams at payment institutions, digital asset firms, and financial institutions engaging with stablecoins should review the proposals closely, as they will shape licensing, reserve, and operational requirements for stablecoin issuers and related entities in Singapore.

The European Banking Authority has published its routine transparency disclosure for EBA Chair Francois-Louis Michaud's public meeting register, covering 16-31 August 2026, with no external meetings recorded during this period. This is a standard governance transparency filing with no substantive regulatory or policy implications for financial institutions.

The Ontario Securities Commission has flagged six firms—including Trin Wealth, Lumixus Global Securities, Nexora Groups, Independence Financial LLP, DIGIFUNDS FINSERVICES LTD, and Crown Gate Flow—as unregistered to deal or advise in securities within Ontario. Compliance teams at financial institutions should treat this as a signal to reinforce due diligence protocols around registration verification and third-party onboarding, particularly for retail-facing investment products.

This document is a ceremonial speech by Deutsche Bundesbank Vice President Fritzi Köhler-Geib honoring Professor Michael Weber's Alexander von Humboldt Professorship. It contains no regulatory guidance, requirements, or compliance obligations and requires no action from compliance teams.

The PCAOB publicly released one new inspection report for Deloitte & Touche S.p.A. (Italy) and expanded two previously issued reports for Eide Bailly LLP and Seligson & Giannattasio CPAs PC after the firms failed to remediate identified quality control deficiencies within the 12-month grace period. This action signals the PCAOB's continued enforcement of transparency requirements under Rule 4009(d) and highlights ongoing audit quality concerns at the named firms.