The Federal Trade Commission has issued a warning to some of the world’s largest payment platforms, signaling that access to the financial system is now firmly on the regulator’s radar as a consumer protection issue.
Australia’s overhaul of its anti-money laundering and counter-terrorism financing framework has moved out of consultation mode and into execution, with regulators finalizing the rules that will govern how businesses transition into the new regime.
Poland’s Office of Competition and Consumer Protection has handed down more than $1.88 million (PLN 7,033,289) in fines to companies operating in the renewable energy sector, signaling that the country’s push toward clean energy will not come at the expense of consumer protection.
Italy’s competition regulator has opened two investigations into major players in the cosmetics sector, examining whether marketing practices may have encouraged children and adolescents to use products designed for adults.
The Federal Court has ordered Binance’s Australian derivatives arm to pay a $6.5 million penalty (AUD $10 million) after widespread failures in its client onboarding processes exposed hundreds of retail investors to high-risk crypto products.
Germany’s financial regulator, BaFin, has fined Barclays €1.65 million after identifying repeated failures to meet disclosure requirements designed to keep capital markets transparent.
An Australian court has handed down roughly $3.9 million (AUD $6 million) in penalties against oil and gas services firm Qteq Pty Ltd and its executive chairman Simon Ashton, in a case that makes one point unmistakably clear. You do not need to succeed in forming a cartel to face serious consequences.