Compliance Radar

Who was sanctioned, and for what?

Fines, court rulings and incidents from Europe and North America: 1,370 cases from 35 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.

1case from 1 jurisdiction
€10mTotal of monetary amounts
€10mLargest single case: Deutsche Bank, S.A.E.
€10mMedian per case with an amount

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When?

per quarter, by date of decision
Trend
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Q4 20241€10m
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1 case

30 Oct 2024 Deutsche Bank, S.A.E.CNMV: €10m fine and advisory ban for Deutsche Bank SAE on FX derivatives SpainOrganisational requirements €10m

The Comisión Nacional del Mercado de Valores (CNMV, Spanish securities market supervisor) imposed two fines of 5,000,000 EUR each, totalling 10,000,000 EUR, on Deutsche Bank SAE because from 2018 to March 2021 the bank advised Spanish clients on complex FX derivatives such as Target Profit Forwards and Pivot TPF without complying with its information and suitability obligations and without acting in the clients' best interests. In addition, it was barred for one year from advising on complex OTC FX derivatives in which the client sells options. The decision is not final.

What organisations can take from it

When advising on complex derivatives, suitability assessments, risk disclosure and acting in the client's interest must be fully documented; otherwise activity bans may follow in addition to fines.

Relevance to training and awareness

Investment advice and suitability assessments for complex derivatives

Authority / court
Comisión Nacional del Mercado de Valores (CNMV)
Area of law
Capital markets and financial supervision · Organisational requirements
Legal basis
Art. 284.1 und Art. 283.12 i. V. m. Art. 208 bis 211 und 208 ter Texto refundido de la Ley del Mercado de Valores (Real Decreto Legislativo 4/2015); Delegierte Verordnung (EU) 2017/565; Circular CNMV 3/2013
Action
Fine
Status of proceedings
under appeal
Sector
Financial services and insurance
Published
10 Feb 2025

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

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