For nearly a decade, the rules were crystal clear that no bonuses for second-tier executives at state-backed banks in the Netherlands will be allowed. But ABN AMRO decided to test the limits, and now it’s paying the price.
Alphabet’s Google may be heading toward a fresh defeat in its years-long battle with European regulators, after an influential adviser to the EU’s top court recommended upholding a record antitrust fine tied to the tech giant’s Android mobile software.
For nearly five years, Miller Europe let hundreds of its front-facing insurance staff slip off the regulator’s radar. Now it’s paying the price. The Belgian Financial Services and Markets Authority (FSMA) announced this week that it has reached a €500,000 settlement with the Brussels-based broker, a firm born out of Brexit as the EU-facing arm of the UK’s Miller Insurance Group. Alongside the fine, Miller Europe will be named publicly on the FSMA’s website, a regulatory rite of passage for firms caught sidestepping compliance obligations.
The Office of the Comptroller of the Currency (OCC) has stepped up its efforts this month with a new round of enforcement actions aimed at national banks, federal savings associations, and individuals in positions of authority. These actions are about fixing serious issues that could undermine the safety and soundness of the financial system.
In an address to industry leaders at the 2025 AFIA Risk Summit, Chris Gower, Executive Director of Cross-industry Risk at the Australian Prudential Regulation Authority (APRA), outlined the increasing need for financial institutions to bolster their operational resilience in response to an evolving geopolitical landscape. Drawing a compelling parallel to the "1991 Perfect Storm," Gower described how three converging risks (technology dependence, third-party vulnerabilities, and geopolitical volatility) are creating challenges that could shake the financial system’s stability.
The Financial Supervisory Authority (FIN-FSA) has just unveiled its latest risk assessment concerning money laundering and terrorist financing (ML/TF) in the life insurance sector. The report provides an in-depth look at how life insurance companies are handling these threats and where they still have room to improve. If you're in the financial services or compliance world, you’ll want to pay attention to this, especially since the sector’s risk level remains “moderately significant” on a scale of 1 to 4.
In the wake of a 2023 data breach that exposed the sensitive personal data of over 155,000 UK residents, genetic testing company 23andMe has been fined £2.31 million by the UK Information Commissioner’s Office (ICO) for failing to implement adequate security measures to protect user information.