Compliance Radar
Who was sanctioned, and for what?
Fines, court rulings and incidents from Europe, North America and Asia-Pacific: 1,828 cases from 37 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.
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Where?
by authority- Federal Court of Australia (auf Antrag der Australian Securities and Investments Commission, ASIC) €137.2m 86 % · 6 cases
- Supreme Court of New South Wales (auf Antrag der Australian Securities and Investments Commission, ASIC) €21.5m 14 % · 1 case
What for?
by topicWho?
by sectorAll sectors
When?
per quarter, by date of decision| Period | Cases | Total |
|---|---|---|
| Q4 2023 | 0 | – |
| Q1 2024 | 0 | – |
| Q2 2024 | 0 | – |
| Q3 2024 | 0 | – |
| Q4 2024 | 1 | €4.87m |
| Q1 2025 | 1 | €16.5m |
| Q2 2025 | 0 | – |
| Q3 2025 | 0 | – |
| Q4 2025 | 1 | €76.1m |
| Q1 2026 | 2 | €27.5m |
| Q2 2026 | 1 | €21.4m |
| Q3 2026 | 1 | €12.4m |
| Q4 2026 | 0 | – |
7 cases
3 Jul 2026 ASX LimitedASX: 20.5 million AUD for misleading announcement on CHESS replacement project €12.4m
The Federal Court of Australia, on application by the Australian Securities and Investments Commission (ASIC, Australia's corporate, markets and financial services regulator), imposed a penalty of 20.5 million AUD on the exchange operator because a market announcement of 10 February 2022 stated that the project to replace its CHESS clearing and settlement system was progressing well. About six weeks later ASX announced a likely delay and paused the project in November 2022; in June 2026 it admitted contraventions of ss 12DA and 12DB of the ASIC Act.
Progress updates on major projects must reflect the actual status, including known risks – and operators of critical market infrastructure are held to a particularly high standard.
Accuracy and balance of market announcements about ongoing major projects
- Authority / court
- Federal Court of Australia (auf Antrag der Australian Securities and Investments Commission, ASIC)
- Area of law
- Capital markets and financial supervision · Disclosure and reporting obligations
- Legal basis
- Australian Securities and Investments Commission Act 2001 (Cth) ss 12DA, 12DB(1)(a) und (e)
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Published
- 3 Jul 2026
Original amount 20,500,000 AUD, converted at the ECB reference rate of 3 Jul 2026.
Checked against the official source on 3 Oct 2026 · Direct link
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18 Jun 2026 HSBC Bank Australia LimitedHSBC Bank Australia: AUD 35m penalty for failing to protect customers from scams €21.4m
HSBC admitted that from May 2023 to May 2024 it lacked adequate controls against unauthorised payments via its internal transfer channel, that from January 2020 it handled scam reports under the ePayments Code too slowly (144 days on average) and without applying the liability rules, and that until April 2024 it gave affected customers no orderly way back into their accounts. The Court imposed AUD 35 million (AUD 10 million for the fraud controls, AUD 22.5 million for the contraventions relating to the ePayments Code, AUD 2.5 million for restoring account access) and ordered notices on the website, in the app and in letters to customers.
Banks must deploy scam controls on every payment channel and handle scam reports within the deadlines of the applicable rules.
Fraud and scam prevention in payments and handling of customer scam reports
- Authority / court
- Federal Court of Australia (auf Antrag der Australian Securities and Investments Commission, ASIC)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- s 912A(1)(a), (5A) Corporations Act 2001 (Cth); s 47(1)(a), (4) National Consumer Credit Protection Act 2009 (Cth)
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Repeat case
- no
- Mitigating circumstances
- Admissions and jointly proposed penalty; remediation programme with payments of AUD 27,915,700.56 by 21 May 2026; no previous contraventions of a similar nature.
- Liability of senior managers
- According to the agreed facts, senior management was also aware before May 2023 of heightened fraud risks and gaps in the controls.
- Published
- 18 Jun 2026
Original amount 35,000,000 AUD, converted at the ECB reference rate of 18 Jun 2026.
- ASIC 26-127MR: Federal Court orders $35 million penalty against HSBC for scam protection failures Press release of an authority
- ASIC v HSBC Bank Australia Limited [2026] FCA 847 (18 June 2026) Court decision
Checked against the official source on 3 Oct 2026 · Direct link
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27 Mar 2026 Oztures Trading Pty Ltd (Binance Australia Derivatives)Binance Australia Derivatives: 10 million AUD for misclassified retail clients €5.98m
The Federal Court of Australia, on application by the Australian Securities and Investments Commission (ASIC, Australia's corporate, markets and financial services regulator), imposed a penalty of 10 million AUD because, between July 2022 and April 2023, the provider of crypto derivatives wrongly classified 524 retail clients – more than 85% of its Australian client base – as wholesale clients, depriving them of, among other things, a Product Disclosure Statement, a target market determination and a compliant internal dispute resolution system. The causes were deficient onboarding processes – such as a multiple-choice test that could be retaken without limit – and inadequate training and review; the affected clients suffered 8.66 million AUD in trading losses and paid 3.89 million AUD in fees.
Classifications that remove client protections require robust evidence, trained staff and effective oversight – a knowledge test that can be retaken at will is no substitute for a proper assessment.
Client classification (retail or wholesale) and verification of evidence during onboarding
Missing or inadequate training played a role in the decision.
- Authority / court
- Federal Court of Australia (auf Antrag der Australian Securities and Investments Commission, ASIC)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Corporations Act 2001 (Cth) ss 1012B(3)(a)(i) und (iii), 994B(1) und (2)(a), 912A(1)(a), (b), (f) und (g); Geldbuße nach s 1317G
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Repeat case
- no
- Mitigating circumstances
- Full compensation of affected clients (around 13.1 million AUD) overseen by ASIC, cooperation in the investigation and the proceedings, admission of all contraventions; no previous court findings.
- Published
- 27 Mar 2026
Original amount 10,000,000 AUD, converted at the ECB reference rate of 27 Mar 2026.
Checked against the official source on 3 Oct 2026 · Direct link
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13 Mar 2026 Macquarie Securities (Australia) LimitedMacquarie Securities: 35 million AUD for years of misreported short sales €21.5m
The Supreme Court of New South Wales, on application by the Australian Securities and Investments Commission (ASIC, Australia's corporate, markets and financial services regulator), imposed a penalty of 35 million AUD on the securities dealer because, between December 2009 and February 2024, inadequate systems, processes and controls led it to misreport at least 73 million short sales to the market operator and to omit required regulatory data from orders. The court also found inadequate risk management and misleading conduct, and ordered a compliance programme involving an independent expert.
Regulatory reporting processes need their own regularly tested controls, and individual errors that come to light should be investigated as a possible sign of wider system weaknesses.
Accuracy of regulatory reporting (short sale and order data) and escalation of identified reporting errors
- Authority / court
- Supreme Court of New South Wales (auf Antrag der Australian Securities and Investments Commission, ASIC)
- Area of law
- Capital markets and financial supervision · Disclosure and reporting obligations
- Legal basis
- Corporations Act 2001 (Cth) ss 798H(1)(b), 912A(1)(h), 1041H(1); ASIC Market Integrity Rules (Securities Markets) 2017; Geldbuße nach s 1317G(1)
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Employees
- 50 to 249
- Mitigating circumstances
- Early acceptance of the contraventions, sustained cooperation with ASIC and contrition; the errors were reported to ASIC once identified and promptly remediated; no previous court findings of similar conduct.
- Liability of senior managers
- According to the decision, the errors arose at an operational level; ASIC did not allege any involvement of senior management.
- Published
- 16 Mar 2026
Original amount 35,000,000 AUD, converted at the ECB reference rate of 13 Mar 2026.
Checked against the official source on 3 Oct 2026 · Direct link
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19 Dec 2025 Australia and New Zealand Banking Group LimitedANZ: AUD 135m penalty over conduct in a government bond issue and false reporting €76.1m
In April 2023, as a bank managing a AUD 14 billion government bond issue for the Australian Office of Financial Management (AOFM), ANZ sold large volumes of bond futures around the time of pricing without informing the AOFM of its outstanding sales, and from 2021 to 2023 reported inflated secondary market turnover in government bonds to it. The Court imposed AUD 135 million: AUD 85 million for the bond issue (including AUD 80 million for unconscionable conduct) and AUD 50 million for the inaccurate turnover reporting, together with a compliance programme at its own cost. In three retail matters a further AUD 115 million was imposed on the same day in a separate judgment.
A bank managing an issue for a client must disclose its own hedging activity and must not report embellished figures to authorities.
Transparency and conflicts of interest in proprietary trading around client transactions; accuracy of reports to authorities
- Authority / court
- Federal Court of Australia (auf Antrag der Australian Securities and Investments Commission, ASIC)
- Area of law
- Capital markets and financial supervision · Market abuse and insider dealing
- Legal basis
- ss 12CB(1), 12DB(1)(a) ASIC Act 2001 (Cth); ss 912A(1)(a), (ca), (f), (5A), 912DAA, 1041H(1) Corporations Act 2001 (Cth)
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Employees
- 10,000 or more
- Mitigating circumstances
- Constructive engagement with ASIC and admissions at the earliest available opportunity.
- Published
- 19 Dec 2025
Original amount 135,000,000 AUD, converted at the ECB reference rate of 19 Dec 2025.
Checked against the official source on 3 Oct 2026 · Direct link
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21 Feb 2025 AustralianSuper (Trustee des Pensionsfonds AustralianSuper)AustralianSuper: AUD 27m penalty for failing to merge duplicate member accounts €16.5m
From July 2013 to March 2023 the trustee of Australia’s largest superannuation fund did not merge the duplicate accounts of around 90,700 members, although s 108A of the SIS Act requires this; members lost around AUD 69 million through duplicate fees, insurance premiums and lost earnings. The Court found a breach of fundamental trustee obligations and imposed AUD 27 million; all affected members have been remediated.
Known compliance gaps must be escalated and remedied with sufficient resources; lack of staff is no excuse.
Escalating and remedying identified compliance gaps that harm customers
- Authority / court
- Federal Court of Australia (auf Antrag der Australian Securities and Investments Commission, ASIC)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- ss 52, 108A Superannuation Industry (Supervision) Act 1993 (Cth)
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Mitigating circumstances
- Self-report of potential breaches to ASIC in December 2021; remediation of all affected members.
- Liability of senior managers
- According to the judgment, issues were not escalated and senior management oversight was absent; under-resourcing delayed the remedy.
- Published
- 21 Feb 2025
Original amount 27,000,000 AUD, converted at the ECB reference rate of 21 Feb 2025.
Checked against the official source on 3 Oct 2026 · Direct link
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12 Dec 2024 Bit Trade Pty Ltd (Betreiber der Kryptobörse Kraken)Kraken operator Bit Trade: AUD 8m penalty for missing target market determination €4.87m
From October 2021 Bit Trade offered more than 1,100 Australian customers a “margin extension” product, which the Court classified as a credit facility, without having made the required target market determination. Customers paid more than USD 7 million in fees and interest and suffered trading losses of more than USD 5 million. The Court imposed AUD 8 million; it was the first penalty for a missing target market determination.
Crypto providers too must check whether their products are regulated financial products and make a target market determination before distribution.
Product approval and target market determinations for new financial and crypto products
- Authority / court
- Federal Court of Australia (auf Antrag der Australian Securities and Investments Commission, ASIC)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Design and Distribution Obligations des Corporations Act 2001 (Cth) (Pflicht zur Target Market Determination)
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Published
- 12 Dec 2024
Original amount 8,000,000 AUD, converted at the ECB reference rate of 12 Dec 2024.
- ASIC 24-274MR: Kraken crypto exchange operator to pay $8 million following ASIC enforcement action Press release of an authority
Checked against the official source on 3 Oct 2026 · Direct link