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PwC Zhong Tian was hit with a six-month suspension and a fine of $62m on Friday over the firm's audit of failed property developer China Evergrande Group

PwC invests in 'high quality' business in China - memo

PwC is making "tangible investments" to ensure the Big Four firm has high quality and sustainable business in China, it said in a memo to staff after Chinese regulators on Friday hit the company's mainland unit with a record penalty.

Business • 16 Sep 24

HSBC had notified the FCA in 2018 after spotting problems with the way it handled customers in arrears or in financial difficulty.

HSBC fined for treatment of cash-strapped customers

Banking giant HSBC has been fined £6.2m for failing to treat financially-stretched customers fairly, Britain's Financial Conduct Authority (FCA) said today.

Business • 23 May 24

The bank fined RSA Insurance Ireland €3.5m in 2018

Central Bank prohibits former RSA actuary for 5 years

The Central Bank has published a prohibition notice that it issued to the former Chief and Signing Actuary at RSA Insurance Ireland (RSAII) and former Actuarial Manager at Euro Insurances DAC (EID) trading as LeasePlan Insurances, Martin Ryan.

Business • 13 Apr 23

IAASA fines Kildare audit partner €10,500 for failures

The body which supervises auditing and accounting in Ireland has fined a Co Kildare based audit partner €10,500 as part of a settlement agreement, following the identification of a number of contraventions and non-compliance with rules.

Business • 29 Mar 23

The Central Bank said it must receive accurate and complete information from fund managers

Regulator fines fund manager €117,600 for breaches

The Central Bank has fined Mercer Global Investments Management Limited (MGIM) €117,600 and reprimanded it for six breaches of investment fund regulations.

Business • 16 Nov 22

PayPal Holdings said a policy update that said customers could have to pay $2,500 in damages was sent in error

PayPal says policy to fine customers was an 'error'

PayPal Holdings said it will not fine users for misinformation and an earlier policy update that said customers could have to pay $2,500 in damages was sent in error.

Business • 11 Oct 22

Bank of Ireland has been fined a record €100m by the Central Bank for its role in the tracker mortgage scandal

Shameful tracker scandal not over, despite record fine

Imagine being told by your bank that you couldn't have something you thought, or even knew, you were entitled to.

Business • 29 Sep 22

KPMG and the other big accounting firms are facing major reforms to improve standards after company collapses at British builder Carillion and retailer BHS

KPMG UK fined £700,000 for failing to challenge client

Britain's accounting watchdog fined KPMG and a senior partner for failing to challenge what a client was telling them about certain complex supplier arrangements.

Business • 02 Apr 20

Central Bank fines Savvi Credit Union €185,500

Dublin's Savvi Credit Union fined by Central Bank

The Central Bank has reprimanded and fined Dublin's Savvi Credit Union a total of €185,500 for three breaches of credit union legislation.

Business • 07 Nov 19

The Central Bank reprimanded and fined Campbell O'Connor & Company for five breaches of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010

Campbell O'Connor & Company fined by Central Bank

Private client stockbrokers Campbell O'Connor & Company has been fined €280,000 by the Central Bank for anti-money laundering and terrorism financing compliance failures.

Business • 10 May 19

An investigation by the UK Gambling Commission found that Paddy Power Betfair failed to protect customers and stop stolen money from being gambled

Paddy Power Betfair fined £2.2m over check failings

Paddy Power Betfair has been fined £2.2m by the UK's gambling watchdog for a raft of failings including allowing a punter to gamble money stolen from a dogs home.

Business • 16 Oct 18

The Central Bank's investigation found significant failures by BCP in respect of client categorisation.

Central Bank fines BCP Asset Management €210,000

The Central Bank has fined BCP Asset Management Designated Activity Company a total of €210,000 for breaches of the conduct of business rules.

Business • 21 Dec 17

The Central Bank has responsibility for monitoring and enforcing the compliance of life insurers based in Ireland

Central Bank fines Intesa Sanpaolo Life €1m

The Central Bank has fined life assurance company Intesa Sanpaolo Life €1m and reprimanded it for four breaches of the Criminal Justice (Money Laundering & Terrorist Financing) Act, 2010.

Business • 27 Nov 17

US Federal Housing Finance Agency accused RBS of mis-selling $32 billion of mortgage-backed securities before the financial crisis

RBS to pay $5.5 billion to resolve US mortgage probe

Royal Bank of Scotland will pay $5.5 billion to settle one of the two major US investigations into allegations it mis-sold mortgage-backed bonds that it needs to resolve before the British government can sell its shares.

Business • 12 Jul 17

The high volume of breaches in Bank of Ireland's case pointed to significant weaknesses, according to the Central Bank

Bank of Ireland fined €3.15m by Central Bank

Bank of Ireland has been fined €3.15m by the Central Bank for breaching rules which prevent money laundering and financing of terrorists.

Business • 30 May 17

Tesco has struck a deferred prosecution agreement after months of talks with the UK's Serious Fraud Office

Tesco to pay £129m to settle false accounting charges

Retailer Tesco has agreed to pay a £129m fine to settle an investigation by prosecutors over a 2014 profit overstatement, it said today.

Business • 28 Mar 17

Deutshce Bank said it has exited many of the underlying activities and improved standards

Deutsche Bank drastically cuts bonuses for 2016

Deutsche Bank has decided to cut bonuses drastically as it struggles to turn a profit and faces a big bill for litigation.

Business • 18 Jan 17

The fine marks the latest setback for Qualcomm's most profitable business of licensing wireless patents to the mobile industry

South Korea fines Qualcomm on competition laws

South Korea's competition regulator has fined Qualcomm 1.03 trillion won ($854m) for what it called unfair business practices in patent licensing and modem chip sales.

Business • 28 Dec 16

The Central Bank said there was 'an unacceptable delay in reporting the breaches which was a matter taken into account in determining the appropriate penalty to apply'

Capita fined €1.15m over regulatory breaches

The Central Bank has fined Capita Life and Pensions Services Ireland €1.15m for regulatory breaches over a nine-year period between 2006 and 2015.

Business • 13 Oct 16

The Central Bank said that KBC Bank Ireland breached the Code of Practice on Lending to Related Parties

KBC Bank Ireland fined €1.4m by Central Bank

The Central Bank has fined KBC Bank Ireland €1.4m and reprimanded it for breaches of certain financial regulations from September 2012 to February of this year.

Business • 10 Oct 16

Deutsche Bank has said it would fight a $14 billion demand from the DoJ to settle a mortgage mis-selling case

Deutsche Bank denies need for government bailout

Deutsche Bank has said it has no need for German government help with a $14 billion (€12.4 billion) US demand to settle claims it missold mortgage-backed securities, as its shares hit a record low.

Business • 26 Sep 16

The claim against the bank far exceeds its expectations that the DoJ would be looking for a figure of only up to €3 billion

Deutsche Bank to fight $14 billion demand from US

Deutsche Bank said it would fight a $14 billion demand from the US Department of Justice to settle claims it missold mortgage-backed securities.

Business • 16 Sep 16

Central Bank warns of 'vigorous investigation and enforcement action' if code breaches occur

New Ireland Assurance fined for breaches of code

The Central Bank has fined New Ireland Assurance €650,000 and reprimanded it for two breaches of the Consumer Protection Code.

Business • 18 Jul 16

The Central Bank said Arch Re Europe failed to comply with certain standards required by the code

Central Bank fines Arch Re Europe on code breaches

The Central Bank has imposed a fine of €275,000 on Arch Reinsurance Europe Underwriting for breaches of the Corporate Governance Code.

Business • 22 Mar 16

The German regulator said Lego kept lists of its toys, prices and retailers

Germany fines Lego for playing with prices

Danish toy maker Lego has been fined €130,000 by German regulators for preventing stores from offering discounts on its popular toys in 2012 and 2013.

Business • 12 Jan 16

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