the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has slapped Toronto-based Exchange Bank of Canada with a $2,457,750 penalty for failing to uphold key anti-money laundering (AML) and anti-terrorist financing rules.
France’s telecommunications giant, Orange, is facing a €50 million fine for embedding advertisements within users’ email inboxes—a move deemed a serious violation of privacy rights by the French Data Protection Authority (CNIL). The ruling, issued on November 14, 2024, underscores the growing intolerance for digital marketing practices that bypass user consent.
As the global financial landscape grapples with a series of profound challenges, the Austrian Financial Market Authority (FMA) is preparing for a busy and transformative year ahead. In a recent briefing, FMA Executive Directors Helmut Ettl and Eduard Müller highlighted their strategic priorities for 2025, emphasizing that Austria’s financial environment is unlikely to improve in the short term.
Judge Adrienne Nelson of the U.S. District Court for the District of Oregon has stepped in to block the proposed $24.6 billion merger between Kroger Co. and Albertsons Companies, Inc. On December 10, 2024, the court issued a preliminary injunction, reflecting growing concerns about the merger’s potential to harm competition, raise consumer prices, and negatively affect grocery store workers.
Senators Ron Wyden (D., Ore.) and Elizabeth Warren (D., Mass.) are turning up the heat on TD Bank, demanding answers about what its executives and employees knew regarding a sprawling money-laundering operation. This operation, spearheaded by Da Ying Sze—a Queens-based individual—funneled more than $470 million from drug sales through the bank. The senators’ inquiry, detailed in a letter to TD Bank CEO Bharat Masrani, signals ongoing scrutiny despite October’s record-breaking $3 billion settlement with the Justice Department.
As we move into the 2024 financial year, big changes are on the horizon for large publicly listed companies. Thanks to the Corporate Sustainability Reporting Directive (CSRD), companies with over 500 employees are now required to significantly enhance how they report sustainability information. These changes, highlighted in the latest AFM (Dutch Authority for the Financial Markets) Market Watch report, will not only impact annual corporate reports but also extend to prospectuses and press releases, providing investors with clearer, more detailed insights into a company’s environmental, social, and governance (ESG) efforts.
Methode Electronics, the Chicago-based manufacturer known for its contributions to transportation and cloud computing industries, is facing questions from the Securities and Exchange Commission (SEC) over its adherence to anti-corruption laws, including the Foreign Corrupt Practices Act (FCPA).