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.
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Where?
by countryWhat for?
by action- Fine €7.88m 95 % · 10 cases
- Other €395,000 5 % · 5 cases
Who?
by sectorAll sectors
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 | 1 | €90,000 |
| Q1 2025 | 1 | €225,000 |
| Q2 2025 | 0 | — |
| Q3 2025 | 4 | €720,000 |
| Q4 2025 | 2 | €100,000 |
| Q1 2026 | 1 | €1.37m |
| Q2 2026 | 4 | €3.4m |
| Q3 2026 | 1 | €177,187 |
15 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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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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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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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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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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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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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
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8 Jul 2025 Barents Reinsurance S.A.Barents Reinsurance: maximum fine of 250,000 EUR over governance deficiencies €250,000
The reinsurer breached the principle of specialisation in reinsurance business, its approved manager was not effectively present on site and had insufficient powers, the governance system including oversight of outsourced functions was inadequate, and orders from a 2019 inspection had not been implemented or only partially. The Commissariat aux Assurances (Luxembourg insurance supervisory authority, CAA) imposed the statutory maximum of 250,000 EUR; the company cooperated.
On-site substance is a supervisory requirement: management, powers and oversight of outsourced functions must genuinely be located in the home country.
- 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. 49, 71, 81, 274, 303
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Mitigating circumstances
- Cooperation with the CAA during and after the inspection.
- Published
- 8 Aug 2025
- CAA – Sanction administrative BARENTS REINSURANCE S.A. (08.08.2025) Decision of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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31 Mar 2025 FXNET LimitedCyprus: FXNET pays 225,000 EUR under settlement over organisational and CFD breaches €225,000
The investigation covering 2021 to 2022 concerned compliance organisation, product governance, record-keeping obligations, safeguarding of client funds, client information, suitability and appropriateness assessments and the CFD restrictions for retail investors. Following board resolutions of 17 and 31 March 2025, the Cyprus Securities and Exchange Commission (CySEC) concluded a settlement of 225,000 EUR, which has been paid.
Safeguarding client funds and keeping proper records are basic duties of every investment firm – gaps quickly add up in a settlement.
- Authority / court
- Cyprus Securities and Exchange Commission (CySEC)
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Art. 17, 22(1), 25, 26(3)(a) Gesetz über Wertpapierdienstleistungen 2017; Art. 42 VO (EU) 600/2014; Art. 37(4) CySEC-Gesetz
- Action
- Other
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Published
- 11 Nov 2025
- CySEC Board Decision – FXNET Limited – Settlement €225,000 Decision of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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6 Nov 2024 Deželna banka Slovenije d. d.Deželna banka Slovenije: 90,000 EUR for deficient credit risk provisioning €90,000
From 2018 to mid-2023, the bank had no adequate policies for impairments and provisions under IFRS 9 and the EBA guidelines on credit risk. Banka Slovenije (Bank of Slovenia) imposed 90,000 EUR on the bank and 2,500 EUR each on the chair of the management board and a board member.
In Slovenia, governance deficiencies in risk management are also sanctioned personally against board members.
- Authority / court
- Banka Slovenije
- Area of law
- Capital markets and financial supervision · Organisational requirements
- Legal basis
- Art. 171, Art. 396 Abs. 1 Nr. 19 ZBan-3
- Action
- Fine
- Status of proceedings
- final
- Sector
- Financial services and insurance
- Liability of senior managers
- Fines of 2,500 EUR each on the chair of the management board, Marko Rozman, and the board member Barbara Cerovšek Zupančič.
- Razkritje informacij o izrečeni sankciji pravni in odgovorni osebi – Deželna banka Slovenije d. d. Decision of an authority
- Banka Slovenije – Informacije o izrečenih ukrepih Enforcement database of an authority
Checked against the official source on 25 Sep 2026 · Direct link
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20 Mar 2024 Scope Ratings GmbHScope Ratings: conflicts of interest not identified and disclosed – 2.2 million EUR €2.2m
The Berlin-based credit rating agency lacked adequate procedures, internal controls and organisational arrangements to deal with conflicts of interest, did not disclose a potential conflict and concealed ancillary services it had provided to a rated entity. ESMA found negligent infringements and imposed fines of 2,197,500 EUR.
Systematically record and disclose ancillary services for customers whom you are at the same time rating or auditing.
Identifying and disclosing conflicts of interest
- 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), Anhang III
- Action
- Fine
- Status of proceedings
- unknown
- Sector
- Financial services and insurance
- Culpability
- negligent
- Repeat case
- yes
- Published
- 22 Mar 2024
- Decision of the Board of Supervisors – Scope Ratings GmbH (ESMA43-1868696574-770) Decision of an authority
- ESMA Sanctions and Enforcement Enforcement database of an authority
Checked against the official source on 25 Sep 2026 · Direct link