2019’s largest regulatory fines
Regulation and the consequences of non-compliance are ever on the agenda at the world’s biggest banks. Unfortunately, that doesn’t mean they can’t fall foul of them. Here are the biggest fines from 2019:
Standard Chartered braced itself in its 2019 projections for a hefty regulatory fine it received in April.
MasterCard was charged with limiting the payment options of card users in Europe.
Barclays, RBS, Citigroup, JP Morgan, and MUFG charged for using chatrooms to exchange trading plans.
“Citi failed to deliver accurate returns and failed to meet the standards of governance and oversight”.
The UK’s Financial Conduct Authority (FCA) slapped Goldman with a charge for failing to report 220m transactions
UBS failed to provide complete and accurate information in relation to 86.6 million reportable transactions.