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- Monetary Authority of Singapore (MAS) €4.39m 100 % · 3 cases
What for?
by topicWho?
by sectorAll sectors
When?
per year, by date of decision| Period | Cases | Total |
|---|---|---|
| 2023 | 1 | €2.66m |
| 2024 | 1 | €1.7m |
| 2025 | 0 | – |
| 2026 | 1 | €26,855 |
3 cases
18 May 2026 Havenport Investments Pte LtdMAS: composition fine for Havenport Investments €26,855
The fund manager Havenport Investments Pte Ltd lacked an adequate framework for managing the risks of the assets under its management, breached its base capital requirement without reporting this to the Monetary Authority of Singapore (MAS, Singapore's central bank and financial regulator), and violated conditions of its Capital Markets Services Licence requiring prior approval for a new product and personalised advice from independent financial advisers for retail investors before onboarding. MAS allegedly imposed a composition fine of SGD 40,000; the company has ceased its retail fund management business and has not been allowed to manage retail investors' money since 18 July 2024. The amount and the facts have not been confirmed against the primary source.
Licence conditions and capital requirements belong in ongoing compliance monitoring by senior management; any shortfall must be reported immediately.
Senior management duties regarding licence conditions, capital requirements and reporting to the regulator
- Authority / court
- Monetary Authority of Singapore (MAS)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Securities and Futures Act (SFA) und zugehörige Regulations; Auflagen der Capital Markets Services Licence
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Liability of senior managers
- Measures against individuals are not set out here.
- Published
- 18 May 2026
Original amount 40,000 SGD, converted at the ECB reference rate of 18 May 2026.
- MAS: Enforcement Action against Havenport Investments Pte Ltd for Breaches of MAS Regulations (18.05.2026) Press release of an authority
- MAS: Enforcement Actions (Verzeichnis, Eintrag 18.05.2026) Enforcement database of an authority
Checked against the official source on 4 Oct 2026 · Direct link
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2 Dec 2024 JPMorgan Chase Bank, N.A.MAS: SGD 2.4m civil penalty on JPMorgan over excessive bond spreads €1.7m
Relationship managers at JPMorgan Chase Bank, N.A. misrepresented or incompletely disclosed price components in 24 over-the-counter bond transactions between November 2018 and September 2019, so that clients paid spreads above those agreed (in breach of s 201(c) and (d) SFA, the Securities and Futures Act). The bank admitted liability under s 236C SFA because, lacking adequate processes and controls, it had neither prevented nor detected the misconduct; it allegedly paid the Monetary Authority of Singapore (MAS, Singapore's central bank and financial regulator) a civil penalty of SGD 2.4 million and refunded the overcharged fees to clients. The amount and the facts have not been confirmed against the primary source.
A firm that gives relationship managers discretion over pricing must systematically check compliance with agreed terms – otherwise the institution is liable for their misconduct.
Accurate and complete disclosure of prices and spreads to clients
- Authority / court
- Monetary Authority of Singapore (MAS)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- ss 201(c), 201(d), 232 und 236C Securities and Futures Act (SFA)
- Action
- Fine
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Employees
- 10,000 or more
- Culpability
- negligent
- Published
- 2 Dec 2024
Original amount 2,400,000 SGD, converted at the ECB reference rate of 2 Dec 2024.
- MAS: MAS Imposes Civil Penalty of $2.4 Million on JPMorgan Chase Bank, N.A. for Misconduct by its Relationship Managers (02.12.2024) Press release of an authority
- MAS: Enforcement Actions (Verzeichnis, Eintrag 02.12.2024, Action Type Civil Penalty) Enforcement database of an authority
Checked against the official source on 4 Oct 2026 · Direct link
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28 Dec 2023 a Swiss major bankSwiss major bank: 3.9 million SGD as relationship managers concealed excessive spreads €2.66m
Relationship managers at the Singapore branch gave clients false or incomplete post-trade disclosures on 39 over-the-counter bond transactions, so that the clients paid spreads above the agreed rates. On 28 December 2023 the Monetary Authority of Singapore (MAS, Singapore's central bank and financial regulator) imposed a civil penalty of 3.9 million SGD on the bank because it lacked adequate controls, such as post-trade monitoring, to prevent or detect the misconduct. The bank admitted liability, paid immediately and separately compensated the affected clients.
Banks must monitor their relationship managers' post-trade pricing disclosures, or they will be liable themselves for the misconduct.
Fair and transparent pricing disclosures in private banking
- Authority / court
- Monetary Authority of Singapore (MAS)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Securities and Futures Act 2001, s 236C i. V. m. ss 201(c), 201(d); Civil Penalty nach s 232 SFA
- Action
- Fine
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Employees
- 10,000 or more
- Culpability
- negligent
- Mitigating circumstances
- Liability admitted, penalty paid immediately, affected clients compensated and internal controls strengthened.
- Published
- 28 Dec 2023
Original amount 3,900,000 SGD, converted at the ECB reference rate of 28 Dec 2023.
- Monetary Authority of Singapore (MAS), Veröffentlichung der Behörde (Entscheidung 2023) Decision of an authority
Checked against the official source on 8 Oct 2026 · Company name anonymised since 28 Dec 2025 · Direct link