Top 5 ORX News Losses: Q2 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 Q2 2021.
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June
1. Deutsche Bank – $121.8m
Deutsche Bank provisions EUR 100 million to compensate customers over fee increase ruling.
2. Robinhood Markets – $69.6m
Robinhood agrees to pay USD 70 million for misleading customers and supervisory failures.
3. Collins Asset Group – $15.8m
Collins Asset to pay USD 15.8 million for misleading investors to lend to shell companies.
4. Forex Capital Trading – $15.5m
Forex CT ordered to pay AUD 20 million by ASIC for systemic unconscionable conduct.
5. Deutsche Bank – $11.9m
Deutsche Bank pays over EUR 10 million to JGC for alleged mis-selling for forex derivatives.
May
1. UBS – $210.5m
UBS fined EUR 172.4 million by European Commission over EGB trading cartel.
2. Nomura – $158.2m
Nomura fined EUR 129.6 million by European Commission over EGB trading cartel.
3. UniCredit – $84.8m
UniCredit fined EUR 69.4 million by European Commission over EGB trading cartel.
4. Swiss Life Group – $77.4m
Swiss Life to pay USD 77.4 million for aiding US taxpayers avoid paying tax.
5. Bank of America – $75.0m
BofA to pay USD 75 million settlement for improperly charging overdraft and other fees.
April
1. Koineks Teknolojileri – $2bn
Thodex stops trading as CEO allegedly flees with USD 2 billion in user funds in fraud claims.
2. ABN AMRO – $575m
ABN AMRO pays EUR 480 million in fine and disgorgement over AML failings.
3. JPMorgan Chase & Co. – $18.8m
JPMorgan to pay up to USD 18.8 million over unpaid interest on mortgage funds held in escrow. 7
4. Bank of America – $15.3m
Bank of America fined EUR 12.6 million by European Commission for SSA bond trading cartel.
5. Credit Suisse – $14.3m
Credit Suisse fined EUR 11.9 million by European Commission over SSA bonds trading cartel.
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