Compliance & Ethics

The European Banking Authority (EBA) has unveiled the results of its fourth and final round of reviews, examining how competent authorities across 30 EU/EEA member states are tackling the ever-present risks of money laundering and terrorist financing (ML/TF) in the banking sector. With this report, the EBA has completed its comprehensive assessment of the authorities responsible for AML/CFT supervision, offering a detailed snapshot of the progress made—and the work that remains.

Turkey has just handed Google a significant blow in the form of a 2.6 billion Turkish Lira fine—roughly $75 million—marking yet another chapter in the ongoing global scrutiny of Google’s dominance in the ad tech industry. The decision from Turkey's Competition Authority (TCA) underscores mounting regulatory pressure on the tech giant’s practices in the online advertising space.

The Securities and Exchange Commission (SEC) has charged Cantor Fitzgerald, L.P. with misleading investors over its handling of two special purpose acquisition companies (SPACs). The firm, which has agreed to pay a $6.75 million civil penalty to settle the case, found itself under scrutiny for bending the truth about its early dealings with potential merger targets.

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.

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.

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).