Regulatory Tracker — Page 2 of 10

SEBI issued a show-cause notice to Paytm executives over the timing of the company's 2023 disclosure that it was curbing small personal loans. The notice followed an RBI clampdown on Paytm's lending activities.

The Reserve Bank of India issued draft guidance making banks accountable for all AI models used, including vendor-licensed systems. Banks would be required to independently validate third-party models rather than relying on vendor certification.

The Bank of Lithuania imposed an interim restriction on UAB Lux International Payment System, a licensed electronic money institution, barring it from serving new and existing customers. The measure was authorized by the Regional Administrative Court and remains in force pending the completion of a regulatory inspection.

APRA commenced Federal Court proceedings against Bendigo and Adelaide Bank on Aug 11, 2026, seeking approval for an $8 million civil penalty. The bank admitted breaching executive-accountability obligations tied to a 2023 cyber attack on its former Alliance Bank business.

The Reserve Bank of India imposed a ₹50,000 penalty on The Amravati District Central Co-operative Bank Ltd. on Aug 6, 2026, for KYC violations and charging customers for SMS alerts never sent.

The RBI imposed a ₹50,000 penalty on The Amravati District Central Co-operative Bank Ltd. for KYC violations and improper SMS alert charges. The order was dated Aug 6, 2026.

The Reserve Bank of India issued new rules governing EMI default recovery practices, restricting how banks can lock customer devices and how recovery agents may contact borrowers. The guidance applies to commercial banks and sets specific notice periods before device restrictions can be imposed.

The FDIC is working with banking and fintech industry groups to develop an independent standard-setting body and voluntary rulebook for fintechs and third parties that partner with banks. The proposed standards would certify firms against baseline risk-management standards but carry no safe harbor.

The OCC and Wells Fargo signed a formal agreement on Sep 12, 2024, citing flaws in BSA/AML risk management, suspicious activity reporting, and OFAC sanctions compliance. The agreement requires Wells Fargo to submit a remedial action plan within 120 days.

A US banking regulator rejected Dutch fintech Bunq BV's application to operate as a national bank. Bunq had submitted the charter request at the beginning of the year.

FinCEN fined UBS US$125 million for alleged wilful AML compliance failures. The penalty, assessed on August 6, 2026, was reported as one of the largest AML fines of the year.

The OCC rejected Dutch fintech Bunq's application for a U.S. national bank charter in a letter dated Aug 04, 2026. The regulator cited supervisory and compliance concerns, including doubts about capitalization and management experience.

FinCEN fined UBS $125 million for repeat anti-money laundering failures and Bank Secrecy Act violations. The penalty is FinCEN's largest against a broker-dealer for BSA violations.

The FDIC is advancing plans to create an industry-backed fintech certification body. The proposal establishes a standards and certification framework for fintechs partnering with banks.

Bank of America disclosed it faces potential new fines from the OCC over AML program deficiencies. The bank said it is continuing to discuss resolution of a consent order issued in Dec 2024.

Bank of America disclosed in its SEC quarterly filing that it faces potential new fines tied to a December 2024 OCC consent order over AML deficiencies. The bank said it is continuing to discuss a resolution with the OCC.

FinCEN imposed a record $125 million penalty on UBS Financial Services for repeated AML failures, including unmonitored foreign wire transfers and four years of uncorrected compliance deficiencies.

FINRA fined UBS Financial $20 million for anti-money laundering violations. The news release was published on Aug 03, 2026.

The CFTC fined UBS Financial Services $8 million for failing to supervise AML transaction-monitoring systems. The order also requires the firm to cease and desist from further violations.

FinCEN imposed a $125 million civil penalty on the U.S. affiliate of UBS for Bank Secrecy Act violations on Aug 04, 2026. The agency called it the largest such penalty ever against a broker-dealer.

FINRA fined UBS Financial Services $20 million on Aug 03, 2026 for anti-money-laundering violations. The firm failed to establish a compliance program reasonably designed to detect and report suspicious foreign-currency wire transactions.

EU AI Act transparency obligations (Article 50) and the European Commission's enforcement powers over general-purpose AI providers became effective on August 2, 2026. The AI Office can impose fines up to 3% of global annual turnover or €15 million for violations.

FinCEN assessed a $125 million civil money penalty against UBS Financial Services on Aug 03, 2026, for willful violations of the Bank Secrecy Act. The agency called it the largest BSA penalty ever imposed on a broker-dealer.

The CFTC on Aug 03, 2026, ordered UBS Financial Services to pay $8 million for failing to supervise the configuration and operation of its AML transaction-monitoring systems for foreign-currency wire transfers.