Fines for Misconduct in the Banking Sector – What Is the Situation in the EU?
In-Depth Analysis
20-03-2017
This paper was drafted under supervision of the Economic Governance Support Unit. The US system for addressing bank misconduct through fines delivers a number of lessons for the EU with regard to the design of bank enforcement architecture and the need to develop common approaches across national and EU levels with a view to avoiding regulatory arbitrage. Following the crisis, the highest money penalties imposed on banks in the US related to mis-selling of financial products – a criminal offence falling under the remit of Department of Justice – rather than to breaches of prudential supervisory requirements.
In-Depth Analysis
External author
Elena Carletti
About this document
Publication type
Keyword
- America
- bank
- banking supervision
- BUSINESS AND COMPETITION
- civil liability proceedings
- code of conduct
- economic analysis
- economic geography
- ECONOMICS
- EU institutions and European civil service
- European Banking Authority
- EUROPEAN UNION
- FINANCE
- financial institution
- financial institutions and credit
- financial risk
- free movement of capital
- GEOGRAPHY
- international affairs
- INTERNATIONAL RELATIONS
- justice
- LAW
- management
- political geography
- POLITICS
- politics and public safety
- risk management
- statistics
- United States
- whistleblowing