Compliance Radar
Who was sanctioned, and for what?
Fines, court rulings and incidents from Europe, North America, Latin America, Asia-Pacific, Middle East and Africa: 2,207 cases from 44 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- Eidgenössische Finanzmarktaufsicht (FINMA) €9.98m 100 % · 8 cases
What for?
by topic- Organisational requirements €9.98m 100 % · 6 cases
- no topic – 0 % · 2 cases
Who?
by sectorAll sectors
When?
per year, by date of decision| Period | Cases | Total |
|---|---|---|
| 2023 | 4 | – |
| 2024 | 2 | €9.98m |
| 2025 | 0 | – |
| 2026 | 2 | – |
8 cases
3 Jun 2026 Wendelspiess Partners AG in LiquidationFINMA: Wendelspiess Partners breached FIDLEG duties, licence revoked Order
Wendelspiess Partners AG invested almost all the money of its more than 400 clients in a barely diversified foreign fund it had set up and managed itself, which invested mainly in a Zug-based investment company and companies linked to it; it gave insufficient information about conflicts of interest and risks, carried out no suitability check and withheld relevant information from the Eidgenössische Finanzmarktaufsicht (FINMA, Swiss Financial Market Supervisory Authority). FINMA revoked the licence as an asset manager of the company, which is now bankrupt. Measures against individuals are not set out here. The decision is not final.
In-house funds in client portfolios are a classic conflict of interest that must be disclosed and backed by a documented suitability check.
Conflicts of interest with in-house funds; information and suitability duties
- Authority / court
- Eidgenössische Finanzmarktaufsicht (FINMA)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Verhaltenspflichten nach dem Finanzdienstleistungsgesetz (FIDLEG): Interessenkonflikte, Information, Eignungsprüfung; Auskunftspflicht gegenüber der FINMA
- Action
- Order
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Liability of senior managers
- Measures against individuals are not set out here.
- Published
- 3 Jun 2026
- FINMA-Medienmitteilung vom 03.06.2026: FINMA beendet Verfahren gegen die Wendelspiess Partners AG Press release of an authority
Checked against the official source on 5 Oct 2026 · Version 3 · Direct link
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1 May 2026 Swiss Fund Management AG in Liquidation; BZ Berater Zentrum AGFINMA revokes Swiss Fund Management's licence and confiscates BZ commissions Order
Swiss Fund Management AG in liquidation and BZ Berater Zentrum AG, which held around 2,000 asset management mandates, channelled investor money of around CHF 200 million, directly or via funds, into illiquid bonds of interlinked issuers that financed real estate projects of related companies, without adequately informing investors about the conflicts of interest and without adequate suitability and appropriateness checks under FIDLEG (Swiss Financial Services Act). By ruling of 1 May 2026 the Eidgenössische Finanzmarktaufsicht (FINMA, Swiss Financial Market Supervisory Authority) revoked SFM's licence as a manager of collective assets, rejected BZ's application for a licence as an asset manager and confiscated placement commissions of more than CHF 3 million from BZ. The ruling is final.
Anyone steering client money into products of related companies must disclose the conflicts of interest and document a suitability check for each client.
Conflicts of interest and suitability checks in asset management
- Authority / court
- Eidgenössische Finanzmarktaufsicht (FINMA)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Verhaltensregeln nach dem Finanzdienstleistungsgesetz (FIDLEG): Interessenkonflikte, Eignungs- und Angemessenheitsprüfung
- Action
- Order
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Published
- 29 Jun 2026
Checked against the official source on 2 Oct 2026 · Direct link
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12 Dec 2024 Leonteq AG (Finanzgruppe Leonteq)Leonteq: distribution via unregulated partners – confiscation of 9.3 million CHF in profits €9.98m
The Swiss Financial Market Supervisory Authority (FINMA) found serious breaches of risk management obligations and of the requirement to guarantee irreproachable business conduct: the financial group monitored its distribution chain inadequately and in some cases worked with dubious, unregulated distributors that sold products in countries not intended for them without authorisation. FINMA ordered governance requirements, the termination of these relationships, the appointment of an audit agent and the confiscation of 9.3 million CHF in profits; the ruling was not yet final at the time of publication.
Anyone who distributes via third parties is liable for their regulatory status – sales partners require due diligence just like customers.
- Authority / court
- Eidgenössische Finanzmarktaufsicht (FINMA)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Finanzmarktaufsichtsgesetz (FINMAG)
- Action
- Disgorgement of profits
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Mitigating circumstances
- Good cooperation in the proceedings; Leonteq had already strengthened compliance and distribution controls of its own accord and terminated relationships with suspicious distributors
Original amount 9,300,000 CHF, converted at the ECB reference rate of 12 Dec 2024.
- FINMA schliesst Verfahren gegen Leonteq ab Press release of an authority
Checked against the official source on 28 Sep 2026 · Version 2 · Direct link
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8 Mar 2024 a small Swiss bankFINMA revokes a small Swiss bank's licence and later opens bankruptcy proceedings Order
The bank repeatedly breached capital requirements and organisational and risk-management requirements, kept faulty accounts, breached duties to provide information and report, and despite a ban on risk-increasing business took on higher-risk client relationships without clarifying their background; the deficiencies persisted despite measures already ordered in 2022. On 8 March 2024 the Eidgenössische Finanzmarktaufsicht (FINMA, Swiss Financial Market Supervisory Authority) revoked the bank's licence and found that it no longer offered the guarantee of irreproachable business conduct; because minimum capital was clearly undershot and over-indebtedness was feared, FINMA opened bankruptcy proceedings on 13 June 2024. At that time the licence revocation was under appeal before the Federal Administrative Court.
Supervisory requirements must be implemented on time; a firm that takes on new risks while deficiencies remain open will ultimately lose its licence.
Capital, organisation and due diligence at small banks
- Authority / court
- Eidgenössische Finanzmarktaufsicht (FINMA)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Bankenaufsichtsrecht: Eigenmittelvorschriften, Organisation und Risikomanagement, Sorgfaltspflichten zur Geldwäschereibekämpfung; Bewilligungsentzug
- Action
- Order
- Status of proceedings
- under appeal
- Sector
- Financial services and insurance
- Employees
- 50 to 249
- Repeat case
- yes
- Published
- 13 Jun 2024
- FINMA, News (Übersicht) (Entscheidung 2024) Press release of an authority
Checked against the official source on 2 Oct 2026 · Company name anonymised since 8 Mar 2026 · Direct link
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29 Sep 2023 a Swiss online insurance ranking portalFINMA: Swiss insurance ranking portal counts as an insurance intermediary Order
On its online platform the portal produces individual rankings of insurance offers through which users can request quotes; for these requests a sister company registered as an intermediary receives payments from the insurers. In enforcement proceedings the Eidgenössische Finanzmarktaufsicht (FINMA, Swiss Financial Market Supervisory Authority) found that the portal itself acts as an unaffiliated insurance intermediary even after changing the process, and ordered it to register in the intermediaries register without delay and to meet its information duties towards consumers. The ruling was not final at the time of publication.
Platforms that rank offers side by side and earn from brokered contracts should clarify their regulatory status early rather than working around it through group structures.
Regulatory classification of ranking and intermediary platforms
- Authority / court
- Eidgenössische Finanzmarktaufsicht (FINMA)
- Area of law
- Capital markets and financial supervision
- Legal basis
- Versicherungsaufsichtsrecht: Registrierungs- und Informationspflichten ungebundener Versicherungsvermittler
- Action
- Order
- Status of proceedings
- unknown
- Sector
- Media and online platforms
- Published
- 29 Sep 2023
- FINMA, News (Übersicht) (Entscheidung 2023) Press release of an authority
Checked against the official source on 2 Oct 2026 · Company name anonymised since 29 Sep 2025 · Direct link
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24 Jul 2023 a Swiss major bankHedge fund collapse: FINMA finds serious risk management failings at major bank Order
The bank held a position of 24 billion USD vis-à-vis a hedge fund, responded inadequately to limit breaches and paid out a further 2.4 billion USD shortly before the collapse. FINMA found serious and systematic breaches of organisational requirements and ordered the bank's legal successor to introduce group-wide position limits and risk-based remuneration.
Escalate concentration risks and limit breaches on a mandatory basis – remuneration must not ignore the risks taken.
- Authority / court
- Eidgenössische Finanzmarktaufsicht (FINMA)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Bankengesetz (Organisations- und Risikomanagementpflichten)
- Action
- Order
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Liability of senior managers
- Measures against individuals are not reported here.
- FINMA, News (Übersicht) (Entscheidung 2023) Press release of an authority
Checked against the official source on 28 Sep 2026 · Version 5 · Company name anonymised since 24 Jul 2025 · Direct link
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17 May 2023 a Swiss crypto foundation in bankruptcyFINMA: Swiss crypto foundation sold tokens without the required licence Other
In 2021 the foundation sold its own tokens to around 500 private individuals for around EUR 3 million in an initial coin offering, although the announced learning platform with marketplace never went live; the Eidgenössische Finanzmarktaufsicht (FINMA, Swiss Financial Market Supervisory Authority) classed the token as a hybrid token with the character of a security and found that the foundation, together with its founder, had acted without authorisation as a securities firm and had also acted without authorisation as a financial intermediary, and had breached its duty to provide information. Because bankruptcy proceedings had already been opened against the foundation in March 2023 owing to over-indebtedness, FINMA only formally established the serious breach of supervisory law. The ruling was not final at the time of publication.
Anyone selling tokens to the public must first establish whether they count as securities or means of payment and require a licence.
Licensing requirements for token sales (ICOs)
- Authority / court
- Eidgenössische Finanzmarktaufsicht (FINMA)
- Area of law
- Capital markets and financial supervision
- Legal basis
- Finanzmarktrecht: unerlaubte Tätigkeit als Wertpapierhaus und als Finanzintermediärin; Auskunftspflicht gegenüber der FINMA
- Action
- Other
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Published
- 17 May 2023
- FINMA, News (Übersicht) (Entscheidung 2023) Press release of an authority
Checked against the official source on 2 Oct 2026 · Company name anonymised since 17 May 2025 · Direct link
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28 Feb 2023 a Swiss major bankFINMA: Swiss major bank seriously breached supervisory law over supply-chain finance funds Order
The bank had launched four supply-chain finance funds with companies of an external financing group, which were closed in March 2021 holding around USD 10 billion of client money; the Eidgenössische Finanzmarktaufsicht (FINMA, Swiss Financial Market Supervisory Authority) found that the bank had in practice left the selection and review of receivables to the partner, had warnings handled by functions that were not independent and gave FINMA partly incorrect information, and classed this as a serious breach of its duties regarding risk management and organisation. FINMA ordered that the executive board periodically review the around 500 most important business relationships for counterparty risks and that the responsibilities of the around 600 most senior managers be recorded in writing; an audit agent monitors implementation.
Anyone distributing a partner's products under their own name must assess the risks themselves and have warnings investigated independently.
Risk management for partner products; handling internal warnings
- Authority / court
- Eidgenössische Finanzmarktaufsicht (FINMA)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Finanzmarktaufsichtsrecht: Pflichten zu Risikomanagement und angemessener Betriebsorganisation; Pflichten als Asset Managerin
- Action
- Order
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Employees
- 10,000 or more
- Liability of senior managers
- FINMA opened four enforcement proceedings against former managers of the bank and requires a responsibilities document for the most senior managers in future.
- Published
- 28 Feb 2023
- FINMA, News (Übersicht) (Entscheidung 2023) Press release of an authority
Checked against the official source on 2 Oct 2026 · Company name anonymised since 28 Feb 2025 · Direct link