Compliance Radar
Who was sanctioned, and for what?
Fines, court rulings and incidents from Europe and North America: 756 cases from 32 jurisdictions, each with an official source and checked against that source before publication. Filter by country, area of law and sector. Click a chart to drill down one level.
Click a bar to drill down one level.
Where?
by regionAll jurisdictions
What for?
by topicWho?
by company- „Paysera LT“, UAB 2 cases 7 % · €762,000
- AIFM Capital AB 1 case 3 % · €177,187
- Banque Degroof Petercam SA 1 case 3 % · €1m
- Banus Port Vagyonkezelő Zrt. 1 case 3 % · €608,080
- Barents Reinsurance S.A. 1 case 3 % · €250,000
- Blacktower Financial Management (Cyprus) Ltd 1 case 3 % · €70,000
- BMO Capital Markets Corp. 1 case 3 % · €39.9m
- Brown Capital Management LLC 1 case 3 % · €187,500
- Condor Courtiers & Conseillers S.à r.l. 1 case 3 % ·
- Deželna banka Slovenije d. d. 1 case 3 % · €90,000
- 18 more18 cases
When?
per quarter, by date of decision| Period | Cases | Total |
|---|---|---|
| Q3 2023 | 0 | — |
| Q4 2023 | 0 | — |
| Q1 2024 | 1 | €2.2m |
| Q2 2024 | 0 | — |
| Q3 2024 | 0 | — |
| Q4 2024 | 4 | €26.3m |
| Q1 2025 | 3 | €127.7m |
| Q2 2025 | 0 | — |
| Q3 2025 | 5 | €730,000 |
| Q4 2025 | 4 | €191,000 |
| Q1 2026 | 3 | €1.83m |
| Q2 2026 | 7 | €4.53m |
| Q3 2026 | 2 | €364,687 |
29 cases
16 Sep 2026 AIFM Capital ABAIFM Capital: 2 million SEK for inadequate selection and oversight of fund managers €177,187
As a so-called fund hotel, the company had its funds managed by other firms, but examined these delegation agreements only insufficiently, did not take the related decisions properly and did not monitor the funds’ returns in relation to risk closely enough. The Swedish financial supervisory authority Finansinspektionen (FI) issued a remark and imposed 2 million SEK; no damage to investors was established.
Outsourcing tasks does not outsource responsibility: document the selection of service providers, the decisions taken and ongoing oversight.
- Authority / court
- Finansinspektionen (FI)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Schwedisches Fondsrecht – Regeln zur Delegation der Fondsverwaltung und deren Überwachung
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Mitigating circumstances
- No established damage to investors; remedial measures already taken during the investigation.
- Published
- 16 Sep 2026
Original amount 2,000,000 SEK, converted at the ECB reference rate of 16 Sep 2026.
- FI ger AIFM Capital en anmärkning och en sanktionsavgift (16.09.2026) Press release of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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10 Jul 2026 Brown Capital Management LLCBrown Capital Management: voting rights notifications not submitted on time €187,500
The Baltimore-based US asset manager had not submitted voting rights notifications to the issuer and BaFin in time; the deadline is four trading days after reaching a notifiable threshold. BaFin imposed a fine of 187,500 EUR; the notice is final.
Anyone investing in German issuers needs automated threshold monitoring with clear responsibility for the four-day deadline.
Threshold monitoring and notification deadlines for shareholdings
- Authority / court
- Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin)
- Area of law
- Capital markets and financial supervision · Disclosure and reporting obligations
- Legal basis
- § 33 Abs. 1 Satz 1 WpHG
- Action
- Fine
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Published
- 22 Jul 2026
- Brown Capital Management LLC: BaFin setzt Geldbußen fest Decision of an authority
- Bekanntmachung der BaFin zur Brown Capital Management LLC (Maßnahmenansicht mit Rechtskraftvermerk) Official register or notice
Checked against the official source on 25 Sep 2026 · Direct link
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30 Jun 2026 Moody's Deutschland GmbHESMA fines Moody's Deutschland 2.1 million EUR €2.15m
The credit rating agency did not submit up-to-date rating information to the European Securities and Markets Authority (ESMA), did not provide complete historical performance data to the central repository and lacked adequate procedures and internal control mechanisms. ESMA found negligent infringements and imposed fines totalling 2,145,000 EUR.
Reporting obligations to the supervisory authority are data quality issues – without functioning internal controls, they become a risk of fines.
- Authority / court
- Europäische Wertpapier- und Marktaufsichtsbehörde (ESMA)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Verordnung (EG) Nr. 1060/2009 (CRA-Verordnung), Art. 24, 36a, Anhang III
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Culpability
- negligent
- Repeat case
- yes
- Decision of the Board of Supervisors – Moody's Deutschland GmbH (ESMA43-857238790-2075) Decision of an authority
- ESMA Sanctions and Enforcement Enforcement database of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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30 Jun 2026 „Paysera LT“, UABPaysera: daily fine for missing annual accounts adds up to 362,000 EUR €362,000
Because Paysera did not comply with the order to submit its 2024 annual financial statements by 30 September 2025, the Lietuvos bankas (Bank of Lithuania, financial supervisor) first imposed 20,000 EUR in November 2025 and then a daily fine of 1,000 EUR (rising to 2,000 and 3,000 EUR respectively). As the infringement was only remedied after 6 May 2026, the daily fine added up to 362,000 EUR. Source: archived copy of the press release.
Running daily fines make every delay expensive – supervisory orders need top-management priority.
- Authority / court
- Lietuvos bankas (Litauische Zentralbank, Finanzaufsicht)
- Area of law
- Capital markets and financial supervision · Disclosure and reporting obligations
- Legal basis
- Aufsichtsrechtliche Anordnung und Berichtspflichten nach litauischem E-Geld-Recht
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Repeat case
- yes
- Published
- 30 Jun 2026
- Lietuvos bankas, Pranešimas 2026-06-30 (Archivkopie web.archive.org von lb.lt) Press release of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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26 Jun 2026 Banque Degroof Petercam SABanque Degroof Petercam: 1 million EUR settlement over hidden costs in employee stock options €1m
In stock option plans for employees of client companies (2018–2023), the bank did not fully inform the beneficiaries about costs, had initially not recorded the conflicts of interest in this business and assessed clients’ knowledge only with a yes/no question. The Autorité des services et marchés financiers (Belgian Financial Services and Markets Authority, FSMA) accepted a settlement of 1 million EUR with publication by name and commitments on cost information.
Full cost transparency and a dedicated conflicts register also apply to ancillary business such as employee stock option plans.
- Authority / court
- Autorité des services et marchés financiers (FSMA)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Loi du 2 août 2002; Wohlverhaltensregeln (Loyalität, Kostentransparenz, bestmögliche Ausführung, Interessenkonflikte, Kundenkenntnis)
- Action
- Fine
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Repeat case
- yes
- Mitigating circumstances
- Remediation of all deficiencies (appropriateness test, conflicts policy, cost disclosure, waiver of CVA/KVA discounts).
- Published
- 26 Jun 2026
- FSMA – Règlement transactionnel Banque Degroof Petercam (26.06.2026) Decision of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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25 May 2026 Robomarkets LtdCyprus: Robomarkets pays 100,000 EUR under settlement over CFD sales to retail clients €100,000
For the period June 2023 to June 2024, the Cyprus Securities and Exchange Commission (CySEC) examined the investment firm’s organisational requirements, client information, appropriateness assessment and compliance with the restrictions on marketing CFDs to retail investors. The proceedings were concluded with a settlement of 100,000 EUR, which the company has already paid.
When selling CFDs to retail clients, the appropriateness assessment and product intervention rules are central points of supervisory scrutiny.
Appropriateness assessment when selling complex products
- Authority / court
- Cyprus Securities and Exchange Commission (CySEC)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Art. 22(1), 25(1), 26(3) Gesetz über Wertpapierdienstleistungen 2017; Art. 42 VO (EU) 600/2014; CySEC-Richtlinie DI87-09; Art. 37(4) CySEC-Gesetz
- Action
- Other
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Published
- 24 Aug 2026
- CySEC Board Decision – Robomarkets Ltd – Settlement €100.000 Decision of an authority
- CySEC Board Decisions Enforcement database of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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13 May 2026 Oma Säästöpankki OyjOma Säästöpankki: 400,000 EUR over late and incomplete insider lists €400,000
The bank failed to draw up insider lists in good time for two pieces of inside information (termination of the core banking project with Cognizant in 2021, merger talks with Liedon Säästöpankki in 2022), did not update them and omitted mandatory information. The Finanssivalvonta (Finnish Financial Supervisory Authority, FIN-FSA) imposed a total fine of 400,000 EUR; the decision was not appealed and is final.
Insider lists must be created from the moment inside information exists – a fixed process with designated responsible persons prevents gaps.
Insider lists and handling of inside information
- Authority / court
- Finanssivalvonta (FIN-FSA)
- Area of law
- Capital markets and financial supervision · Market abuse and insider dealing
- Legal basis
- Verordnung (EU) Nr. 596/2014 (MAR) Art. 18 Abs. 1, 3 und 4; Durchführungsverordnung (EU) 2016/347
- Action
- Fine
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Mitigating circumstances
- Measures to prevent recurrence and partial admission/cooperation had a mitigating effect.
- Published
- 15 May 2026
- Finanssivalvonta – Oma Säästöpankki Oyj:lle 400 000 euron yhteinen seuraamusmaksu (15.5.2026) Press release of an authority
- Finanssivalvonta – Toimituskirja FIVA/2026/227 vom 13.05.2026 (Oma Säästöpankki Oyj) Decision of an authority
- Finanssivalvonta – Hallinnolliset seuraamukset (Übersicht mit Rechtskraftvermerk) Enforcement database of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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5 May 2026 P&V Assurances SCP&V Assurances: 150,000 EUR – distribution via a deregistered insurance intermediary €150,000
One of the insurer’s intermediaries was removed from the FSMA register in December 2023; owing to a human data entry error in the monitoring tool, P&V only noticed this after more than a month and concluded 34 contracts through him during that time. The Autorité des services et marchés financiers (Belgian Financial Services and Markets Authority, FSMA) accepted a settlement of 150,000 EUR; there had already been a settlement for the same amount in 2020.
Automated register checks are only as good as the underlying data maintenance – critical entries require a four-eyes principle.
Care in master data maintenance / register reconciliation
- Authority / court
- Autorité des services et marchés financiers (FSMA)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Loi du 4 avril 2014 relative aux assurances, Art. 259
- Action
- Fine
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Repeat case
- yes
- Mitigating circumstances
- IT adjustments to prevent recurrence.
- Published
- 5 May 2026
- FSMA – Règlement transactionnel P&V Assurances SC (05.05.2026) Decision of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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15 Apr 2026 Liquidnet Canada Inc.Liquidnet Canada: confidential order data passed on to unauthorised persons €369,572
The operator of alternative trading systems passed on confidential order and trading information from its fixed income and equity platforms to unauthorised employees, lacked adequate safeguards and was initially not forthcoming with the regulator. Sanctions: administrative penalty of 600,000 CAD, 75,000 CAD in costs, a reprimand and an external review.
Technically restrict access rights to confidential client data and review them regularly – and make complete reports to the regulator.
Need-to-know principle and protection of confidential trading data
- Authority / court
- Capital Markets Tribunal (Ontario) auf Antrag der Ontario Securities Commission
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- National Instrument 21-101, s. 5.10(1)-(3); Securities Act (Ontario) ss. 127(1), 127.1
- Action
- Fine
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Mitigating circumstances
- Cooperation, self-report, no prior record
Original amount 600,000 CAD, converted at the ECB reference rate of 15 Apr 2026.
- Oral Reasons for Approval of a Settlement: Ontario Securities Commission v Liquidnet Canada Inc Court decision
- Proceeding: Ontario Securities Commission v Liquidnet Canada Inc Official register or notice
Checked against the official source on 25 Sep 2026 · Direct link
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27 Mar 2026 Dinosaur Merchant Bank LimitedDinosaur Merchant Bank: 338,000 GBP – CFD trading without market abuse surveillance €389,760
After a new order management system was introduced in June 2024, CFD transactions with an underlying value of around 3.05 billion USD were not captured by automated trade surveillance. The bank identified the error in October 2024 but only remedied it in May 2025; the Financial Conduct Authority (FCA) imposed 338,000 GBP after a 30% cooperation discount.
With every system migration, check whether surveillance systems actually capture the new data flows.
- Authority / court
- Financial Conduct Authority (FCA)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Art. 16 Abs. 2 UK MAR; SYSC 6.1.1R; FCA Principle 3
- Action
- Fine
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Mitigating circumstances
- Full cooperation (30% discount); CFD business discontinued in May 2025.
Original amount 338,000 GBP, converted at the ECB reference rate of 27 Mar 2026.
- FCA fines Dinosaur Merchant Bank Limited for market abuse surveillance failures (27.03.2026) Press release of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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25 Mar 2026 Familiam Asset Management OyFamiliam Asset Management: 70,000 EUR for 2,867 unreported securities transactions €70,000
Between September 2021 and August 2023, the asset manager failed to report a total of 2,867 transactions to the supervisory authority on time and in 2024 also submitted quarterly reports (FINREP) late. The Finanssivalvonta (Finnish Financial Supervisory Authority, FIN-FSA) imposed a total fine of 70,000 EUR; the admission had a mitigating effect.
Reporting obligations require deadline monitoring with a deputy arrangement – especially in small firms without their own reporting department.
Regulatory reporting
- Authority / court
- Finanssivalvonta (FIN-FSA)
- Area of law
- Capital markets and financial supervision · Disclosure and reporting obligations
- Legal basis
- MiFIR (VO (EU) 600/2014) Art. 26 Abs. 1; IFR (VO (EU) 2019/2033) Art. 54 Abs. 1; FIN-FSA-Vorschriften 20/2013 (FINREP)
- Action
- Fine
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Mitigating circumstances
- Admission of the failures / cooperation.
- Published
- 25 Mar 2026
- Finanssivalvonta – Familiam Asset Management Oy:lle 70 000 euron yhteinen seuraamusmaksu (25.3.2026) Press release of an authority
- Finanssivalvonta – Toimituskirja FIVA/2025/1838 vom 25.03.2026 (Familiam Asset Management Oy) Decision of an authority
- Finanssivalvonta – Hallinnolliset seuraamukset (Übersicht mit Rechtskraftvermerk) Enforcement database of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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17 Feb 2026 REGIS-TR S.A.Trade repository REGIS-TR: deficiencies in organisation and data protection – 1.37 million EUR €1.37m
The Luxembourg trade repository lacked adequate compliance procedures and an appropriate organisational structure, failed to identify operational risks and did not adequately protect the confidentiality and integrity of the reported data. ESMA imposed fines totalling 1,374,000 EUR for negligent infringements under EMIR and SFTR; the case is under appeal.
Market infrastructures must manage operational risks and data access as strictly as banks manage their credit risks.
- Authority / court
- Europäische Wertpapier- und Marktaufsichtsbehörde (ESMA)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Verordnung (EU) Nr. 648/2012 (EMIR), Art. 65, 73, Anhang I; Verordnung (EU) 2015/2365 (SFTR), Art. 9
- Action
- Fine
- Status of proceedings
- under appeal
- Sector
- Financial services and insurance
- Culpability
- negligent
- Repeat case
- yes
- Decision of the Board of Supervisors – REGIS-TR S.A. (ESMA43-857238790-1634) Decision of an authority
- ESMA Sanctions and Enforcement Enforcement database of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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10 Dec 2025 Invest in OÜLender Invest in OÜ pays 16,000 EUR for failing to submit annual accounts €16,000
The lender did not submit its 2024 annual report, together with the audit report, the resolution on the appropriation of profits and the minutes of the shareholders’ meeting, to the financial supervisory authority on time. In misdemeanour proceedings, the Finantsinspektsioon (Estonian Financial Supervision Authority) imposed a fine of 16,000 EUR; the maximum is 1 million EUR or 10% of annual turnover. Date = publication.
Even small supervised lenders need a reliable deadline calendar for mandatory supervisory reports.
- Authority / court
- Finantsinspektsioon (Estnische Finanzaufsicht)
- Area of law
- Capital markets and financial supervision · Disclosure and reporting obligations
- Legal basis
- § 56 Abs. 3, § 96 Abs. 2 KAVS (Gesetz über Kreditgeber und -vermittler)
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Published
- 10 Dec 2025
- Finantsinspektsioon tegi Invest in OÜ-le 16 000 eurot trahvi (10.12.2025) Press release of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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21 Oct 2025 Taxshelter.be SATaxshelter.be: 75,000 EUR for missing prospectus supplement on guarantee risks €75,000
After the tax authority had refused the tax shelter certificates for a financed show and the insurer left cover open, the provider failed to inform investors of this material risk in good time by means of a prospectus supplement. The Autorité des services et marchés financiers (Belgian Financial Services and Markets Authority, FSMA) accepted a settlement of 75,000 EUR with publication by name.
New material risks for investors trigger an immediate obligation to publish a supplement – not only in the next annual prospectus.
- Authority / court
- Autorité des services et marchés financiers (FSMA)
- Area of law
- Capital markets and financial supervision · Disclosure and reporting obligations
- Legal basis
- Verordnung (EU) 2017/1129 Art. 23; Loi du 11 juillet 2018 (Loi Prospectus)
- Action
- Fine
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Published
- 21 Oct 2025
- FSMA – Règlement transactionnel Taxshelter.be (21.10.2025) Decision of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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13 Oct 2025 Wonderinterest Trading LtdCyprus: 100,000 EUR against Wonderinterest Trading over misleading client information €100,000
For 2022 to 2024, the Cyprus Securities and Exchange Commission (CySEC) found that the investment firm had no adequate compliance procedures, did not define target markets for its financial instruments, did not act in the best interests of clients and did not inform clients in a fair, clear and not misleading manner. It imposed fines of 50,000, 30,000 and 20,000 EUR; a judicial review of the decision has been recorded.
Advertising statements by financial service providers must present risks in a balanced way – marketing belongs in the compliance approval process.
Fair and not misleading marketing communications
- Authority / court
- Cyprus Securities and Exchange Commission (CySEC)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Sec. 17(2), 17(3)(c), 22(1), 25(1), 25(3)(a) Gesetz über Wertpapierdienstleistungen 2017; Art. 22, 44 Delegierte VO (EU) 2017/565
- Action
- Fine
- Status of proceedings
- under appeal
- Sector
- Financial services and insurance
- Published
- 17 Dec 2025
- CySEC Board Decision – Wonderinterest Trading Ltd – Total fine €100.000 Decision of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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13 Oct 2025 Finamore S.A.Finamore: licence of insurance broker withdrawn over serious deficiencies Other
The Commissariat aux Assurances (Luxembourg insurance supervisory authority, CAA) withdrew the broking firm’s licence (effective from 1 December 2025), among other things for using unregistered intermediaries, lacking internal expertise, insufficiently protected confidential data, economically unexplained payment flows with affiliated companies, incomplete or false information provided to the supervisory authority and deficient customer information.
False information to the supervisory authority and unregistered distribution partners can cost the business its existence – not just a fine.
- Authority / court
- Commissariat aux Assurances (CAA)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Loi modifiée du 7 décembre 2015 sur le secteur des assurances, Art. 303 Abs. 3 lit. c
- Action
- Other
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Published
- 29 May 2026
- CAA – Sanction administrative FINAMORE S.A. (29.05.2026) Decision of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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16 Sep 2025 Go West Invest SAGo West Invest: 10,000 EUR for outdated information note in tax shelter offering €10,000
From June 2021 to October 2024, the company, which raises tax shelter funds through public offerings, kept a public offering on its website with an information note from 2020 without publishing an updated note and filing it with the Autorité des services et marchés financiers (Belgian Financial Services and Markets Authority, FSMA); several dozen investors with an investment volume of under 5 million EUR were affected. The FSMA accepted a settlement of 10,000 EUR.
Investor information has an expiry date – a deadline calendar for mandatory documents prevents infringements.
- Authority / court
- Autorité des services et marchés financiers (FSMA)
- Area of law
- Capital markets and financial supervision · Disclosure and reporting obligations
- Legal basis
- Loi du 11 juillet 2018 (Loi Prospectus), Art. 10, 11
- Action
- Fine
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Published
- 16 Sep 2025
- FSMA – Règlement transactionnel SA Go West Invest (16.09.2025) Decision of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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5 Sep 2025 „Paysera LT“, UABPaysera took over e-money institution Contis without approval – 400,000 EUR €400,000
Paysera acquired 100% of the shares in UAB ‘Finansinės paslaugos „Contis“’ before the assessment period had expired and without a non-objection from the supervisory authority; in April 2025, the Lietuvos bankas (Bank of Lithuania, financial supervisor) objected to the acquisition owing to a lack of documents on reputation, financial soundness and money laundering risks. In addition, the annual financial statements and other reports were not approved and submitted on time. Fine of 400,000 EUR and obligation to remedy by 30 September 2025. Source: archived copy of the press release.
Complete acquisitions of holdings in supervised institutions only after approval – otherwise voting rights are suspended and fines loom.
- Authority / court
- Lietuvos bankas (Litauische Zentralbank, Finanzaufsicht)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Elektroninių pinigų ir elektroninių pinigų įstaigų įstatymas (Inhaberkontrolle, Berichtspflichten)
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Published
- 5 Sep 2025
- Lietuvos bankas, Pranešimas 2025-09-05 (Archivkopie web.archive.org von lb.lt) Press release of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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1 Sep 2025 Blacktower Financial Management (Cyprus) LtdCyprus: Blacktower Financial Management pays 70,000 EUR over conflicts of interest €70,000
For the period November 2020 to May 2025, the Cyprus Securities and Exchange Commission (CySEC) investigated the investment firm’s handling of conflicts of interest and its general conduct of business and information obligations towards clients. The proceedings ended with a settlement of 70,000 EUR, which the company has paid.
Conflicts of interest must be identified, documented and managed vis-à-vis clients – adviser training is the basis for this.
Recognising conflicts of interest in investment advice
- Authority / court
- Cyprus Securities and Exchange Commission (CySEC)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Art. 24(1), 25(1) Gesetz über Wertpapierdienstleistungen 2017; Art. 37(4) CySEC-Gesetz
- Action
- Other
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Published
- 17 Nov 2025
- CySEC Board Decision – Blacktower Financial Management (Cyprus) Ltd – Settlement €70.000 Decision of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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23 Jul 2025 Condor Courtiers & Conseillers S.à r.l.Condor Courtiers & Conseillers: licence withdrawn for using unlicensed introducers Other
Following an on-site inspection in 2024, the Commissariat aux Assurances (Luxembourg insurance supervisory authority, CAA) withdrew the broker’s licence (effective 15 September 2025): there was no effective management by approved managers, unlicensed ‘introducers’ were de facto selling insurance, and the broker’s licence, together with its sub-intermediary network, was improperly made available to third parties.
A distribution licence is not transferable – anyone who ‘rents it out’ to third parties or lets introducers sell risks having it withdrawn.
- Authority / court
- Commissariat aux Assurances (CAA)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Loi modifiée du 7 décembre 2015 sur le secteur des assurances, Art. 273, 274, 283, 286, 303
- Action
- Other
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Published
- 16 Sep 2025
- CAA – Sanction administrative CONDOR COURTIERS & CONSEILLERS S.à r.l. (16.09.2025) Decision of an authority
Checked against the official source on 25 Sep 2026 · Direct link