Some hefty penalties have hit headlines this year, punishing a range of indiscretions including market manipulation and money laundering.
Here are the largest regulatory penalties announced this year.
10. Commerzbank fined £37.8 million by FCA for AML failings
The UK’s Financial Conduct Authority (FCA) fined Commerzbank’s London branch £37.8 million anti-money laundering (AML) issues between 2012 and 2017.
The regulator states that while Commerzbank London was aware of these weaknesses, it “failed to take reasonable and effective steps” to fix them despite the FCA raising its concerns with the bank.
