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.

Financial services and insurance Two Sigma Investments LP und Two Sigma Advisers LP Clear all filters

1case from 1 jurisdiction

€87.6mTotal of monetary amounts

€87.6mLargest single case: Two Sigma Investments LP und Two Sigma Advisers LP

€87.6mMedian per case with an amount

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USA €87.6m 100 % · 1 case

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Capital markets and financial supervision €87.6m 100 % · 1 case

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Trend
Period	Cases	Total
2025	1	€87.6m
2026	0	–

1 case

Newest first Highest amounts

16 Jan 2025 Two Sigma Investments LP und Two Sigma Advisers LPTwo Sigma: 90 million USD – known weaknesses in investment models left unremedied for years USAOrganisational requirements €87.6m

Employees identified weaknesses in investment models that could affect client returns by March 2019 at the latest, but Two Sigma only acted in August 2023; there were no policies, and one employee made unauthorised changes to more than a dozen models. In addition, separation agreements required employees to declare that they had not filed any complaint with authorities. The U.S. Securities and Exchange Commission (SEC) imposed 90 million USD; Two Sigma had already repaid 165 million USD to clients.

What organisations can take from it

Model risks need a change and approval procedure – and identified weaknesses need a binding deadline for remediation.

Authority / court: U.S. Securities and Exchange Commission (SEC)
Area of law: Capital markets and financial supervision · Organisational requirements
Legal basis: Investment Advisers Act of 1940 (Antifraud, Compliance Rule 206(4)-7); Exchange Act Rule 21F-17(a)
Action: Fine
Status of proceedings: final
Sector: Financial services and insurance
Culpability: intentional
Mitigating circumstances: Voluntary repayment of 165 million USD to affected funds and accounts.

Original amount 90,000,000 USD, converted at the ECB reference rate of 16 Jan 2025.

Sources

SEC Charges Two Sigma for Failing to Address Known Vulnerabilities in its Investment Models (16.01.2025) Press release of an authority

Checked against the official source on 25 Sep 2026 · Direct link

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How the radar is compiled

Official sources only

Every case is based on a decision, press release or database of an authority or a court. Press and law-firm reports count at most as additional references.

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Whoever enters a case may not approve it. A second, independent check compares company, date, amount and area of law with the source. Only then is the case published.

Comparable amounts

Amounts are converted at the ECB reference rate on the day of the decision. Each case also shows the original amount.

Corrections on record

A correction is a new version that is checked again. Every change is logged. You can report errors directly on each case.

Case texts are translated from the German original. Where a translation is not yet available, the German text is shown and marked “(German original)”. Names of authorities, laws and companies are given as in the source (company names until they are anonymised).

Company names are anonymised two years after the decision in a case, in line with the practice of many supervisory authorities. The official sources remain linked.

The radar reports on published decisions and is not legal advice. Decisions that are not yet final are marked as such where the status is known.

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