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Common regulatory violations: insurance and investor protection.

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TLDR:

Wolters Kluwer created a Regulatory Violations Intelligence Index tracking penalties imposed by U.S. financial regulators. In the period from 2018-2023, insurance violations were most common but investor protection violations carried the highest penalties. The index also highlighted low attention violations and high penalties for certain violations.

Key Elements of the Article:

  • Wolters Kluwer created a Regulatory Violations Intelligence Index tracking penalties imposed by U.S. financial regulators
  • Insurance violations were the most common regulatory violations from 2018 to 2023
  • Investor protection violations carried the highest penalties, with over $17 billion assessed
  • Low attention violations included Americans with Disabilities Act, discrimination, and payday-lending violations
  • Enforcement actions with low specific violations had some of the highest assessed penalties

Business solutions provider Wolters Kluwer compiled data on regulatory violations in the U.S. financial services sector over the past several years. The company introduced the Regulatory Violations Intelligence Index to provide insights into penalties issued by financial regulators. The index monitored competition-related offenses, consumer protection offenses, and financial offenses. In the period from 2018 to 2023, insurance violations were the most common, while investor protection violations carried the highest penalties, totaling over $17 billion. Notably, some violations, such as Americans with Disabilities Act and discrimination-related penalties, received little attention despite high penalties. Overall, the index highlighted the importance of monitoring regulatory violations for financial institutions to manage compliance risk effectively.


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