5 largest operational risk losses: June 2021

  • 12 July 2021

Do you know which op risk loss events have had the most impact recently? Read on for the 5 largest operational risk losses reported by ORX News in June 2021.

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The ORX News service works by searching global media outlets for operational risk loss events. Our team of multilingual researchers summarise the stories and classify them with the relevant information such as the sector, business line, event type and scenario category. This means you can easily use the service to enhance your scenario generation process, monitor important risk trends and raise awareness of operational risk events.

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Top 5 op risk losses reported by ORX News in June 2021

1. Deutsche Bank – $121.8m

Deutsche Bank provisions EUR 100 million to compensate customers over fee increase ruling.

Business Line: BL0301 Retail Banking
Event Type: EL0401 Suitability, Disclosure & Fiduciary

2. Robinhood Markets – $69.6m

Robinhood agrees to pay USD 70 million for misleading customers and supervisory failures.

Business Line: BL0801 Retail Brokerage
Event Type: EL0401 Suitability, Disclosure & Fiduciary

3. Collins Asset Group – $15.8m 

Collins Asset to pay USD 15.8 million for misleading investors to lend to shell companies.

Business Line: BL0801 Retail Brokerage
Event Type: EL0401 Suitability, Disclosure & Fiduciary

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4. Forex Capital Trading – $15.5m 

Forex CT ordered to pay AUD 20 million by ASIC for systemic unconscionable conduct.

Business Line: BL0202 Global Markets
Event Type: EL0401 Suitability, Disclosure & Fiduciary

5. Deutsche Bank – $11.9m

Deutsche Bank pays over EUR 10 million to JGC for alleged mis-selling for forex derivatives.

Business Line: BL0401 Commercial Banking
Event Type: EL0402 Improper Business or Market Practices

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The operational risk year to date

Summary of distribution, frequency and severity of ORX News event digests.

Top 5 chart June 2021

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ORX News Monthly Top 5 Stories - June 2021

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ORX News is an industry-leading provider of publicly reported operational risk loss events. Financial firms around the world use the service to monitor operational risk losses and understand trends.

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