The SEC and CFTC jointly imposed $9.2 billion in penalties.
The FCA experienced a seven-year low with only eight fines totaling £52.8 million.
A surge
is seen in enforcement actions against global financial institutions in 2023,
particularly in the United States. An analysis encompassed penalties imposed by
regulatory bodies including the US Securities and Exchange Commission
(SEC), the Commodity Futures Trading Commission (CFTC), the UK’s Financial
Conduct Authority (FCA), and counterparts in France, Germany, the Netherlands,
and Singapore. The findings painted a concerning picture of escalating
compliance failures throughout the financial services sector.
US Breaks Records, Europe Varies and Singapore Targets Money
Laundering
The SEC
and CFTC took center stage, collectively imposing a staggering $9.2 billion in
penalties, as reported by SteelEye's Annual Fine Tracker. This
figure included 32 fines exclusively for insider trading, with the CFTC setting
an unprecedented record of penalties amounting to $4.3 billion.
Matt Smith, CEO at SteelEye
The SEC, not far behind, filed
a total of 784 enforcement actions in 2023, marking an increase of 3% from the
previous year. This concerted effort signified a crackdown on smaller firms, as
evidenced by an uptick of 17% in CFTC actions compared to
2022. In
Europe, regulatory actions presented a mixed bag. While the FCA in the UK saw a
notable decline in fines for the first time in seven years, with only eight
fines totaling £52.8 million.
France's
Autorite des Marches Financiers (AMF) took a firm stance. AMF issued fines
totaling €127.9 million, with a significant penalty of €26 million for market
manipulation. Germany's financial regulators, BaFin and the Federal Office of
Justice, issued 40 fines in 2023, representing a decrease of 13% from the
previous year.
In
Singapore, the Monetary
Authority of Singapore demonstrated its commitment to combating
financial misconduct by issuing fines totaling S$7.7 million. These penalties
targeted breaches of anti-money laundering requirements and misconduct by
relationship managers, underscoring the global nature of regulatory scrutiny.
Regulators
Adapt with Technological Solutions
The
SteelEye report highlighted a growing trend of regulators enhancing their
technological capabilities to keep pace with the evolving landscape of
compliance breaches. The ability to process extensive amounts of data is
becoming crucial for regulators worldwide to create and maintain robust,
stable, and secure financial markets.
Matt
Smith, the CEO and Co-Founder of SteelEye, commented: “Regulators had their
foot on the accelerator in 2023, led by the enforcement crackdown from the SEC
and CFTC. As highlighted in SteelEye’s 2023 Compliance Health Check report,
over 30% of US firms are not monitoring WhatsApp, which has been borne out in
notable fines. The remaining holes in compliance practices is why the
regulators have cast a wider net in 2023 and imposed tougher penalties –
something I believe we can expect to continue over the coming year.”
A surge
is seen in enforcement actions against global financial institutions in 2023,
particularly in the United States. An analysis encompassed penalties imposed by
regulatory bodies including the US Securities and Exchange Commission
(SEC), the Commodity Futures Trading Commission (CFTC), the UK’s Financial
Conduct Authority (FCA), and counterparts in France, Germany, the Netherlands,
and Singapore. The findings painted a concerning picture of escalating
compliance failures throughout the financial services sector.
US Breaks Records, Europe Varies and Singapore Targets Money
Laundering
The SEC
and CFTC took center stage, collectively imposing a staggering $9.2 billion in
penalties, as reported by SteelEye's Annual Fine Tracker. This
figure included 32 fines exclusively for insider trading, with the CFTC setting
an unprecedented record of penalties amounting to $4.3 billion.
Matt Smith, CEO at SteelEye
The SEC, not far behind, filed
a total of 784 enforcement actions in 2023, marking an increase of 3% from the
previous year. This concerted effort signified a crackdown on smaller firms, as
evidenced by an uptick of 17% in CFTC actions compared to
2022. In
Europe, regulatory actions presented a mixed bag. While the FCA in the UK saw a
notable decline in fines for the first time in seven years, with only eight
fines totaling £52.8 million.
France's
Autorite des Marches Financiers (AMF) took a firm stance. AMF issued fines
totaling €127.9 million, with a significant penalty of €26 million for market
manipulation. Germany's financial regulators, BaFin and the Federal Office of
Justice, issued 40 fines in 2023, representing a decrease of 13% from the
previous year.
In
Singapore, the Monetary
Authority of Singapore demonstrated its commitment to combating
financial misconduct by issuing fines totaling S$7.7 million. These penalties
targeted breaches of anti-money laundering requirements and misconduct by
relationship managers, underscoring the global nature of regulatory scrutiny.
Regulators
Adapt with Technological Solutions
The
SteelEye report highlighted a growing trend of regulators enhancing their
technological capabilities to keep pace with the evolving landscape of
compliance breaches. The ability to process extensive amounts of data is
becoming crucial for regulators worldwide to create and maintain robust,
stable, and secure financial markets.
Matt
Smith, the CEO and Co-Founder of SteelEye, commented: “Regulators had their
foot on the accelerator in 2023, led by the enforcement crackdown from the SEC
and CFTC. As highlighted in SteelEye’s 2023 Compliance Health Check report,
over 30% of US firms are not monitoring WhatsApp, which has been borne out in
notable fines. The remaining holes in compliance practices is why the
regulators have cast a wider net in 2023 and imposed tougher penalties –
something I believe we can expect to continue over the coming year.”
Devexperts Powers First US Options Platform for Korean Retail Market
Marketing in 2026 Audiences, Costs, and Smarter AI
Marketing in 2026 Audiences, Costs, and Smarter AI
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
Speakers:
-Stephen Miles, Chief Revenue Officer at FYNXT
-John Morris, Co-Founder at FXBlue
-Matthew Smith, Group Chair & CEO at EC Markets
-Tom Higgins, Founder & CEO at Gold-i
-Gil Ben Hur, Founder at 5% Group
#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
Speakers:
-Stephen Miles, Chief Revenue Officer at FYNXT
-John Morris, Co-Founder at FXBlue
-Matthew Smith, Group Chair & CEO at EC Markets
-Tom Higgins, Founder & CEO at Gold-i
-Gil Ben Hur, Founder at 5% Group
#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Educators, IBs, And Other Regional Growth Drivers
Educators, IBs, And Other Regional Growth Drivers
When acquisition costs rise and AI generated reviews are exactly as useful as they sound, performing and fair partners can make or break brokers.
This session looks at how these players are shaping access, trust and user engagement, and what the most effective partnership models look like in 2025.
Key Themes:
- Building trader communities through education and local expertise
- Aligning broker incentives with long-term regional strategies
- Regional regulation and the realities of compliant acquisition
- What’s next for performance-driven partnerships in online trading
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Zander Van Der Merwe, Key Individual & Head of Sales at TD Markets
-Brunno Huertas, Regional Manager – Latin America at Tickmill
-Paul Chalmers, CEO at UK Trading Academy
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #BrokerGrowth #FintechPartnerships #RegionalMarkets
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
When acquisition costs rise and AI generated reviews are exactly as useful as they sound, performing and fair partners can make or break brokers.
This session looks at how these players are shaping access, trust and user engagement, and what the most effective partnership models look like in 2025.
Key Themes:
- Building trader communities through education and local expertise
- Aligning broker incentives with long-term regional strategies
- Regional regulation and the realities of compliant acquisition
- What’s next for performance-driven partnerships in online trading
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Zander Van Der Merwe, Key Individual & Head of Sales at TD Markets
-Brunno Huertas, Regional Manager – Latin America at Tickmill
-Paul Chalmers, CEO at UK Trading Academy
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #BrokerGrowth #FintechPartnerships #RegionalMarkets
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
The Leap to Everything App: Are Brokers There Yet?
The Leap to Everything App: Are Brokers There Yet?
As the arms race to bundle investing, personal finance, and wallets under super apps grows fiercer, brokers are caught between a rock and a hard place.
This session explores unexpected ways for industry players to collaborate as consumer habits evolve, competitors eye the traffic, and regulation becomes more nuanced.
Speakers:
-Laura McCracken,CEO | Advisory Board Member at Blackheath Advisors | The Payments Association
-Slobodan Manojlović,Vice President | Lead Software Engineer at JP Morgan Chase & Co.
-Jordan Sinclair, President at Robinhood UK
-Simon Pelletier, Head of Product at Yuh
Gerald Perez, CEO at Interactive Brokers UK
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As the arms race to bundle investing, personal finance, and wallets under super apps grows fiercer, brokers are caught between a rock and a hard place.
This session explores unexpected ways for industry players to collaborate as consumer habits evolve, competitors eye the traffic, and regulation becomes more nuanced.
Speakers:
-Laura McCracken,CEO | Advisory Board Member at Blackheath Advisors | The Payments Association
-Slobodan Manojlović,Vice President | Lead Software Engineer at JP Morgan Chase & Co.
-Jordan Sinclair, President at Robinhood UK
-Simon Pelletier, Head of Product at Yuh
Gerald Perez, CEO at Interactive Brokers UK
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Mind The Gap: Can Retail Investors Save the UK Stock Market?
Mind The Gap: Can Retail Investors Save the UK Stock Market?
As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task.
Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint:
-Are they happy with the Leeds Reform, in principle and in practice?
-Is it the government’s job to affect the ‘saver’ mentality? Is it doing well?
-What can brokers and fintechs do to spur UK investment?
-How can the FCA balance greater flexibility with consumer protection?
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Nicola Higgs, Partner at Latham & Watkins
-Dan Lane, Investment Content Lead at Robinhood UK
-Jack Crone, PR & Public Affairs Lead at IG
-David Belle, Founder at Fink Money
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task.
Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint:
-Are they happy with the Leeds Reform, in principle and in practice?
-Is it the government’s job to affect the ‘saver’ mentality? Is it doing well?
-What can brokers and fintechs do to spur UK investment?
-How can the FCA balance greater flexibility with consumer protection?
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Nicola Higgs, Partner at Latham & Watkins
-Dan Lane, Investment Content Lead at Robinhood UK
-Jack Crone, PR & Public Affairs Lead at IG
-David Belle, Founder at Fink Money
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
