Compliance & Ethics

The Federal Reserve is reorienting its supervisory approach in a move that Acting Director Mary Aiken and Acting Deputy Director Julie Williams describe as a “significant shift” from past practice. In a memo issued October 29, the leaders of the Division of Supervision and Regulation instructed staff across the Federal Reserve System to align their work with Vice Chair for Supervision Miki Bowman’s updated priorities, an approach that places earlier intervention, clearer communication, and a sharper focus on material financial risks at the center of bank oversight.

The European Commission has presented a package of digital measures intended to reduce administrative burdens and support business growth across the EU. The initiative is designed to help companies focus more on innovation while maintaining the bloc’s standards for fundamental rights, data protection, safety, and fairness.

Optus Mobile has paid a penalty of about $537,000 (AUD $826,320) after Australia’s communications regulator found the company failed to follow required anti-scam rules, leaving several customers vulnerable to financial losses and identity theft.

The Environmental Protection Agency has taken enforcement action against Apple Inc., citing a series of hazardous-waste management lapses at one of the company’s Santa Clara facilities and reaching a settlement that brings the site back into compliance with federal law.

The European Commission is taking a look at the foundations of Europe’s cloud computing market, opening three new investigations that could reshape how major providers operate across the EU.

France’s competition authority has handed down €187.49 million in fines to several major players in Corsica’s fuel sector, finding that they struck an agreement that shut out rivals and helped keep prices higher on the island.

Zephyr Aviation, a contractor for the Department of Homeland Security, has agreed to pay $3.9 million to settle federal allegations that it charged the government for flight hours that never occurred. The agreement, announced Friday by the Department of Justice, resolves claims that the company and its owners, Frederick Credno Jr. and Frederick W. Credno III, violated the False Claims Act while performing transportation work for U.S. Customs and Border Protection (CBP).