Who was sanctioned, and for what?

Konkurransetilsynet (Norwegian Competition Authority) made commitments offered by KLP binding and thereby closed its investigation into a possible abuse of a dominant position in public occupational pensions for municipalities. The authority was concerned that, from 2019, when a competitor entered the market, KLP had systematically discouraged municipalities from putting their occupational pension schemes out to tender; KLP now undertakes to refrain from such influence and to remedy the effects of its earlier practice. No infringement was conclusively established and no fine was imposed.

Authority / court

Konkurransetilsynet

Area of law

Competition law · Abuse of market power

Legal basis

§ 12 Abs. 3 i. V. m. § 11 konkurranseloven; Art. 54 EWR-Abkommen

Action

Order

Status of proceedings

unknown

Sector

Financial services and insurance

Published

2 Sep 2026

Checked against the official source on 28 Sep 2026 · Direct link

From 2004 to 2018, the three issuers of paper meal vouchers coordinated with retail chains how many vouchers would be accepted per purchase. The President of the Úřad pro ochranu hospodářské soutěže (Czech Office for the Protection of Competition, ÚOHS) dismissed the appeals against the recalculation of the fines: Pluxee 132.271 million, Edenred 101.94 million and Up 44.941 million CZK, a total of 279.152 million CZK.

Authority / court

Úřad pro ochranu hospodářské soutěže (ÚOHS)

Area of law

Competition law · Cartels and collusion

Legal basis

Tschechisches Wettbewerbsgesetz, Art. 101 AEUV

Action

Fine

Status of proceedings

final

Sector

Financial services and insurance

Culpability

intentional

Published

17 Aug 2026

Original amount 279,152,000 CZK, converted at the ECB reference rate of 17 Aug 2026.

Checked against the official source on 28 Sep 2026 · Version 2 · Direct link

The Konkurrensverket (Swedish Competition Authority) found that Mavera AB abuses its dominant position by applying, since 1 January 2021, exclusivity clauses in contracts with companies providing insurance medical advice that prohibit advising competing businesses. The authority imposed a competition damages fee (konkurrensskadeavgift) of 14,300,000 SEK and ordered the company to stop applying the clauses and to inform its contractual partners within six weeks; the order is backed by a conditional fine (vite) of 30,000,000 SEK. Mavera has appealed to the Patent- och marknadsdomstolen (Patent and Market Court). The decision is not final.

Authority / court

Konkurrensverket

Area of law

Competition law · Abuse of market power

Legal basis

2 kap. 7 § konkurrenslagen (2008:579); Art. 102 AEUV; 3 kap. 1 § och 3 kap. 5 § första stycket 1 KL

Action

Fine

Status of proceedings

under appeal

Sector

Financial services and insurance

Published

19 Mar 2026

Original amount 14,300,000 SEK, converted at the ECB reference rate of 19 Mar 2026.

Checked against the official source on 28 Sep 2026 · Direct link

According to the KFTC (Korea Fair Trade Commission, Korea's competition authority), the four banks exchanged their complete loan-to-value (LTV) ratios for mortgage lending over a long period, between 736 and 7,500 individual values per bank, and adjusted their own ratios accordingly; only conduct from December 2021, when the express prohibition of anti-competitive information exchange entered into force, was pursued. The KFTC issued cease-and-desist orders and fines totalling KRW 272,014 million (Kookmin KRW 69,747 million, Shinhan KRW 63,801 million, Woori KRW 51,535 million, Hana KRW 86,931 million), the first application of that provision.

Authority / court

Korea Fair Trade Commission (KFTC)

Area of law

Competition law · Cartels and collusion

Legal basis

Art. 40 Abs. 1 Nr. 9 MRFTA i. V. m. Art. 44 Abs. 2 Nr. 3 Durchführungsverordnung (Monopoly Regulation and Fair Trade Act)

Action

Fine

Status of proceedings

unknown

Sector

Financial services and insurance

Published

21 Jan 2026

Original amount 272,014,000,000 KRW, converted at the ECB reference rate of 21 Jan 2026.

Checked against the official source on 4 Oct 2026 · Direct link

With the help of an employee of a competing insurance broker who later moved to ZP Libra, the broker unfairly concluded a brokerage agreement to the detriment of the competitor and used the competitor’s trade secrets to poach customers. The Комисия за защита на конкуренцията (Bulgarian Commission for the Protection of Competition, KZK) imposed 29,470 leva (1% of 2024 turnover, Art. 36(1) ZZK, Bulgarian Protection of Competition Act) and 14,735 leva (0.5%, Art. 37(1) ZZK).

Authority / court

Комисия за защита на конкуренцията (КЗК, Bulgarische Wettbewerbskommission)

Area of law

Competition law

Legal basis

Art. 36 Abs. 1, Art. 37 Abs. 1 ZZK

Action

Fine

Status of proceedings

unknown

Sector

Financial services and insurance

Liability of senior managers

Measures against individuals are not reported here.

Published

16 Dec 2025

Original amount 44,205 BGN, converted at the ECB reference rate of 11 Dec 2025.

Checked against the official source on 28 Sep 2026 · Version 2 · Direct link

On 22 October 2025 the CADE Tribunal approved, in a single block, five cease-and-desist settlements (Termos de Compromisso de Cessação, TCC) with banks and allegedly set the following pecuniary contributions: BofA Securities Inc. 33,010,207.04 BRL, Nomura International plc 32,145,917.76 BRL, Standard Chartered Bank 11,544,947.78 BRL, Credit Suisse AG 1,582,051.57 BRL and MUFG Bank 714,782.33 BRL, together 78,997,906.48 BRL. The session minutes do not state the subject of the proceedings; all five banks are, however, among the parties whose conviction the General Superintendence had recommended in April 2025 in the proceedings on the offshore foreign-exchange cartel (according to CADE, collusion on the prices of FX transactions, exchange of sensitive information and disadvantaging other market participants such as brokers). The amount and the facts have not been confirmed against the primary source.

Authority / court

Conselho Administrativo de Defesa Econômica (CADE), Tribunal Administrativo

Area of law

Competition law · Cartels and collusion

Legal basis

Lei nº 12.529/2011 (Termo de Compromisso de Cessação)

Action

Other

Status of proceedings

final

Sector

Financial services and insurance

Employees

10,000 or more

Liability of senior managers

Measures against individuals are not set out here.

Published

30 Oct 2025

Original amount 78,997,906.48 BRL, converted at the ECB reference rate of 22 Oct 2025.

Checked against the official source on 3 Oct 2026 · Direct link

According to the Competition Commission, a non-compete clause in the 2000 shareholders' agreement of Toyota Financial Services South Africa (TFSSA), in which WesBank holds a one-third stake, obliged the parties not to compete with each other in financing Toyota vehicles; WesBank therefore referred customers' finance requests to TFSSA (market division). In a settlement without admission of liability, the restraint is relaxed so that WesBank may provide finance quotes to retail customers and dealers at their request, and the six parties (FirstRand Bank, its division WesBank, TFSSA, Toyota Motor Corporation, Toyota Financial Services (UK), Toyota South Africa) allegedly pay ZAR 30m jointly or severally. The amount and the facts have not been confirmed against the primary source.

Authority / court

Competition Tribunal of South Africa (auf Antrag der Competition Commission)

Area of law

Competition law · Cartels and collusion

Legal basis

Competition Act 89 of 1998, s. 4(1)(b)(ii); ss. 49D, 58(1)(b)

Action

Fine

Status of proceedings

final

Sector

Financial services and insurance

Employees

10,000 or more

Mitigating circumstances

Settlement without admission of liability to end protracted proceedings.

Published

25 Aug 2025

Original amount 30,000,000 ZAR, converted at the ECB reference rate of 25 Aug 2025.

Checked against the official source on 4 Oct 2026 · Direct link

ZGR Global (formerly Zhongguo Remittance) and Hanshan Money Express, two adjacent leading providers of Chinese yuan remittances in People's Park Complex, shared their current and partly non-public remittance rates with each other daily, often several times a day, from at least January 2016 to February 2022, verbally over the counter, on paper slips or by phone. The Competition and Consumer Commission of Singapore (CCCS) found this to infringe s 34 of the Competition Act and on 31 July 2025 imposed penalties totalling 5,365,007 SGD (ZGR Global 2,793,700, Hanshan 2,571,307 SGD). In addition to its cooperation discount, Hanshan received a further 10% discount for its admission under the Fast Track Procedure.

Authority / court

Competition and Consumer Commission of Singapore (CCCS)

Area of law

Competition law · Cartels and collusion

Legal basis

Competition Act 2004, s 34

Action

Fine

Status of proceedings

unknown

Sector

Financial services and insurance

Mitigating circumstances

Hanshan: discount for cooperation plus a further 10% for its admission under the Fast Track Procedure.

Published

31 Jul 2025

Original amount 5,365,007 SGD, converted at the ECB reference rate of 31 Jul 2025.

Checked against the official source on 4 Oct 2026 · Direct link

The CMA issued five separate decisions finding that, between 2009 and 2013, pairs of banks had exchanged competitively sensitive information on trading UK government bonds (gilts and gilt asset swaps), and in part on Debt Management Office auctions and Bank of England buy-back auctions, in bilateral Bloomberg chats between individual traders. Under settlement, Royal Bank of Canada pays 34,200,000, Morgan Stanley 29,700,000, HSBC 23,400,000 and Citi 17,160,000 GBP, GBP 104,460,000 in total; Deutsche Bank, which had reported the exchanges, was not fined.

Authority / court

Competition and Markets Authority (CMA)

Area of law

Competition law · Cartels and collusion

Legal basis

Chapter I prohibition, section 2(1) Competition Act 1998

Action

Fine

Status of proceedings

final

Sector

Financial services and insurance

Employees

10,000 or more

Mitigating circumstances

Citi: 35% leniency discount and 20% settlement discount; HSBC, Morgan Stanley and RBC: 10% settlement discount. The CMA also took into account the time elapsed since the infringements ended and the banks' extensive compliance measures, some of which pre-dated the investigation.

Published

21 Feb 2025

Original amount 104,460,000 GBP, converted at the ECB reference rate of 21 Feb 2025.

Checked against the official source on 3 Oct 2026 · Direct link

The competition authority fined the payments group 13,869,000 EUR because card issuers and acquirers could only access the group's domestic payment systems (including the national card scheme, a mobile payment solution and the ATM network) if they also bought its processing services. The authority found that this tying, which lasted about three years, was an abuse of a dominant position that held back rival payment processors; the addressees were the holding company and three subsidiaries of the group.

Authority / court

Autoridade da Concorrência (AdC)

Area of law

Competition law · Abuse of market power

Legal basis

Art. 11 Lei n.º 19/2012 (Lei da Concorrência); Art. 102 AEUV

Action

Fine

Status of proceedings

unknown

Sector

Financial services and insurance

Published

19 Mar 2024

Checked against the official source on 28 Sep 2026 · Company name anonymised since 18 Mar 2026 · Direct link

The Konkurences padome (Latvian Competition Council) found that the association, which brings together all of Latvia’s compulsory motor third-party liability (OCTA) insurers, required an entry fee as a condition of membership from 2004 to May 2022 and thereby hindered new insurers from entering the OCTA market. It treated this as a restrictive decision by an association of undertakings; the fine of 373,429 EUR (4.5 % of 2022 turnover) was reduced by 10 % to 336,086 EUR following a settlement.

Authority / court

Konkurences padome (Lettischer Wettbewerbsrat)

Area of law

Competition law · Cartels and collusion

Legal basis

Art. 101 Abs. 1 AEUV

Action

Fine

Status of proceedings

final

Sector

Financial services and insurance

Mitigating circumstances

The association fully acknowledged the infringement in the settlement procedure; the fine was reduced by 10 %.

Published

5 Jan 2024

Checked against the official source on 28 Sep 2026 · Company name anonymised since 21 Dec 2025 · Direct link

In a settlement procedure, the Epitropi Antagonismou (Hellenic Competition Commission) found in a 2023 decision that five Greek banks had, from 2018, coordinated their pricing model for cash withdrawals at ATMs (Direct Access Fee) and other bank charges and exchanged information; the banking association acted as facilitator and also refused a payment services provider membership and obstructed its participation in an interbank credit transfer system. The fines total EUR 41,756,180.10 (the five banks 12,993,482.86; 9,978,799.18; 9,110,682.91; 7,976,790.63 and 143,181.65 EUR; banking association 1,553,242.87 EUR). In addition, from 1 January 2024 the banks must cut the fee for withdrawals with other institutions' cards to caps between EUR 1.50 and EUR 2.00 and keep it there for three years; the Commission accepted the association's commitment to introduce an internal compliance programme within six months.

Authority / court

Επιτροπή Ανταγωνισμού (Hellenic Competition Commission)

Area of law

Competition law · Cartels and collusion

Legal basis

Art. 1 ν. 3959/2011; Art. 101 AEUV; Art. 25 Abs. 1 lit. c ν. 3959/2011 (Verhaltensmaßnahme); Vergleichsverfahren nach Art. 29a ν. 3959/2011

Action

Fine

Status of proceedings

unknown

Sector

Financial services and insurance

Mitigating circumstances

Fines reduced under the settlement procedure; the banking association committed to an internal compliance programme including ongoing training.

Published

21 Dec 2023

Checked against the official source on 28 Sep 2026 · Company name anonymised since 20 Dec 2025 · Direct link

In a decision under the Competition Act 1998, the FCA found that between 18 February and 31 May 2017 three money transfer providers coordinated exchange rates and fixed a transaction fee for transfers to Pakistan made by customers in Glasgow branches. One of them, an intermediary without its own Glasgow branch, facilitated the conduct according to the FCA. The FCA imposed fines totalling £154,300: £139,500 on the first provider (subsidiary and parent), £11,200 on the intermediary and £3,600 on the third provider. All three admitted the infringement, received a 10% settlement discount and, according to the FCA, agreed not to appeal.

Authority / court

Financial Conduct Authority (FCA)

Area of law

Competition law · Cartels and collusion

Legal basis

section 2(1) Competition Act 1998 (Chapter I prohibition)

Action

Fine

Status of proceedings

final

Sector

Financial services and insurance

Original amount 154,300 GBP, converted at the ECB reference rate of 30 Nov 2023.

Checked against the official source on 28 Sep 2026 · Version 4 · Company name anonymised since 30 Nov 2025 · Direct link

According to the European Commission's findings, traders at the bank and at another major bank exchanged sensitive information on prices, volumes and trading strategies for Euro-denominated SSA and government-guaranteed bonds via a financial data provider's terminal messages and chatrooms from 2006 to 2016 and coordinated their conduct. The bank was fined €26.6m; the other bank, as the leniency applicant that revealed the cartel, was not fined.

Authority / court

Europäische Kommission

Area of law

Competition law · Cartels and collusion

Legal basis

Art. 101 AEUV; Art. 53 EWR-Abkommen

Action

Fine

Status of proceedings

unknown

Sector

Financial services and insurance

Employees

10,000 or more

Published

22 Nov 2023

Checked against the official source on 28 Sep 2026 · Company name anonymised since 22 Nov 2025 · Direct link

On 15 November 2023 the Competition Tribunal (South Africa's competition adjudicator) confirmed a settlement in which an international major bank admitted taking part between 2007 and 2013 in price fixing and market allocation in spot trading of the USD/ZAR currency pair, for example by coordinating bids and offers via chat platforms. The bank pays an administrative penalty of 42,715,880 ZAR, will continue its compliance programme and will provide evidence to the Competition Commission (competition authority) in its prosecution of the other banks among the 28 accused.

Authority / court

Competition Tribunal of South Africa (auf Antrag der Competition Commission)

Area of law

Competition law · Cartels and collusion

Legal basis

Section 4(1)(b)(i) und (ii) Competition Act 89 of 1998

Action

Fine

Status of proceedings

final

Sector

Financial services and insurance

Employees

10,000 or more

Published

15 Nov 2023

Original amount 42,715,880 ZAR, converted at the ECB reference rate of 15 Nov 2023.

Checked against the official source on 8 Oct 2026 · Company name anonymised since 15 Nov 2025 · Direct link