Regulators Slapped Industry with Almost $7b Fines in 2022
2022 saw an unprecedented surge in fines issued by global financial services regulators, according to SteelEye’s Fine Tracker. Its newest report analyzed financial penalties imposed by five key regulators showing that the overall amount of fines exceeded $7 billion. SteelEye’s inaugural Fine Tracker analyzed financial penalties issued by the US Securities and Exchange Commission (SEC), […]
Over 1,000 Institutions Shun Swiss Regulator’s License Application
A total of 1,060 institutions comprising portfolio managers and trustees have notified the Swiss Financial Market Supervisory Authority (FINMA) that they will not be submitting a license application as required by the country’s Financial Institutions Act (FinIA) which came into force on January 1, 2020. This is even as the three-year transitional period granted to […]