Regulations
Regulatory developments, compliance updates, and policy changes in global finance.
Norway's FSA Fines Danske Bank NOK 50 Million for Market Manipulation Violations
Norway's Financial Supervisory Authority issued a NOK 50 million administrative fine to Danske Bank on 22 January 2025 for violations of market manipulation prohibition rules.
EU's Digital Operational Resilience Act Enters Application for European Financial Entities
DORA became applicable across the EU on 17 January 2025, binding banks, insurers, investment firms and crypto-asset providers to new ICT risk and resilience standards.
CFPB Orders Block to Pay Up to $175 Million Over Cash App Fraud Investigation Failures and EFTA Violations
The CFPB has ordered Block to pay up to $175 million in consumer redress and penalties after finding Cash App failed to protect users from unauthorised transactions.
CBN Fines Nine Nigerian Banks a Combined ₦1.35 Billion for Festive-Season ATM Cash Failures
Nigeria's central bank fined nine deposit money banks ₦150 million each — a total of ₦1.35 billion — for failing to stock ATMs with Naira during the Christmas and New Year period.
CFPB Sues Capital One for Allegedly Deceiving Consumers Over 360 Savings Interest Rates
The CFPB has filed suit against Capital One N.A. and its parent, alleging the bank misled holders of its 360 Savings account by withholding information about a higher-yielding alternative product.
FCA fines Arian Financial £288,962 over cum-ex trading failings after tribunal cuts penalty
Arian admitted liability but challenged the size of the fine; the Upper Tribunal reduced the FCA's proposed £744,745 penalty after netting fees Arian paid on the Solo Group trades.
Oman Enacts New Banking Law Under Royal Decree No. 2/2025 With Stricter Penalties and Digital Bank Framework
Royal Decree No. 2/2025 brings Oman's banking legislation into effect from January 2025, raising fines to OMR 200,000, repealing the 2000 law, and formally recognising digital banks.
EU MiCA Full Implementation Requires All Crypto-Asset Service Providers to Hold Authorisation
The EU's Markets in Crypto-Assets regulation became fully applicable on 30 December 2024, mandating authorisation for all crypto-asset service providers across all 27 member states.
Central Bank of Oman approves regulatory framework for open banking
The CBO's Board of Governors signed off the final open banking rules on 29 December 2024, after consulting on a draft that set licensing rules for providers and API-based data-sharing standards.
Japan FSA Orders AEON Bank to Improve Operations After Thousands of Flagged Transactions Left Unreviewed
Japan's FSA has issued a business improvement order to AEON Bank after finding 14,639 flagged transactions were left unreviewed and its reporting lag for suspicious transactions peaked at a monthly average of 152 days.
OCC Issues Cease and Desist Order Against Bank of America for BSA/AML and Sanctions Compliance Failures
The OCC has issued a Cease and Desist Order against Bank of America, N.A. for failures to file suspicious activity reports and an uncorrected customer due diligence deficiency in its AML programme.
RBI Fines IndusInd Bank ₹27.30 Lakh for Violations of Deposit Interest Rate Directions
The Reserve Bank of India announced on 20 December 2024 a ₹27.30 lakh penalty on IndusInd Bank, imposed by an order dated 18 December, for non-compliance with its directions on interest rates applied to deposit products.