Compliance Radar
Who was sanctioned, and for what?
Fines, court rulings and incidents from Europe, North America, Latin America, Asia-Pacific and Middle East: 1,929 cases from 40 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- Securities and Futures Commission (SFC), Hongkong €1.34m 100 % · 2 cases
What for?
by action- Fine €1.34m 100 % · 2 cases
Who?
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 | 0 | – |
| Q1 2025 | 0 | – |
| Q2 2025 | 0 | – |
| Q3 2025 | 2 | €1.34m |
| Q4 2025 | 0 | – |
| Q1 2026 | 0 | – |
| Q2 2026 | 0 | – |
| Q3 2026 | 0 | – |
| Q4 2026 | 0 | – |
2 cases
8 Sep 2025 Instinet Pacific LimitedSFC: HKD 8m fine for Instinet Pacific over unreported cross trades €875,254
The SFC publicly reprimanded Instinet Pacific and fined it HKD 8 million because, between December 2012 and March 2018, the broker failed to report 8,817 pairs of cross trades between clients and an affiliated company, worth around HKD 25.9 billion, to the Stock Exchange of Hong Kong as required by Rule 526 of the Exchange Rules. There were neither internal rules on reporting such trades nor any review of the reporting process.
Every reporting obligation towards an exchange or regulator needs written ownership and regular checks that reports are actually being made.
Reporting obligations towards the exchange in securities trading
- Authority / court
- Securities and Futures Commission (SFC), Hongkong
- Area of law
- Capital markets and financial supervision · Disclosure and reporting obligations
- Legal basis
- Section 194 Securities and Futures Ordinance (Cap. 571); Rule 526 Rules of the Exchange (SEHK); General Principles 2 und 7 sowie Paragraph 12.1 Code of Conduct
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Mitigating circumstances
- The firm ceased the relevant trade flows on its own initiative and cooperated with the SFC.
- Published
- 8 Sep 2025
Original amount 8,000,000 HKD, converted at the ECB reference rate of 8 Sep 2025.
- SFC reprimands and fines Instinet Pacific Limited $8 million for failure to report cross trades to the Stock Exchange (25PR140) Press release of an authority
- Statement of Disciplinary Action – Instinet Pacific Limited Decision of an authority
Checked against the official source on 3 Oct 2026 · Direct link
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26 Aug 2025 The Hongkong and Shanghai Banking Corporation LimitedSFC: HKD 4.2m fine for HSBC over faulty disclosures in research reports €461,939
The SFC publicly reprimanded The Hongkong and Shanghai Banking Corporation (HSBC) and fined it HKD 4.2 million because, between 2013 and 2021, the bank failed to disclose, or disclosed incorrectly, its investment banking relationships with the companies covered in research reports on Hong Kong-listed securities. The cause was deficiencies in recording and mapping data across systems; an estimated more than 4,200 reports were affected. Following a self-report, the HKMA investigated jointly with the SFC.
Mandatory conflict-of-interest disclosures in research reports are only as reliable as the underlying reference data, whose reconciliation across systems must be checked regularly.
Disclosure of conflicts of interest in investment research
- Authority / court
- Securities and Futures Commission (SFC), Hongkong
- Area of law
- Capital markets and financial supervision · Disclosure and reporting obligations
- Legal basis
- Section 196 Securities and Futures Ordinance (Cap. 571); Paragraph 16.5(d), General Principles 2, 3 und 7 sowie Paragraph 12.1 Code of Conduct
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Employees
- 10,000 or more
- Mitigating circumstances
- No evidence of client losses, root-cause review, enhancement of systems and controls, and cooperation with the HKMA and the SFC.
- Published
- 26 Aug 2025
Original amount 4,200,000 HKD, converted at the ECB reference rate of 26 Aug 2025.
- SFC reprimands and fines HSBC $4.2 million for disclosure failures in research reports (25PR129) Press release of an authority
- Statement of Disciplinary Action – The Hongkong and Shanghai Banking Corporation Limited Decision of an authority
Checked against the official source on 3 Oct 2026 · Direct link