About the Report
Now in its fifth year, Duff & Phelps’ Global Enforcement Review (GER) 2018 provides commentary and insights on global enforcement trends with a focus on the financial services industry. Combining both our regulatory experience with in-depth analysis of enforcement penalties issued by key regulators around the globe, our aim is to assist firms in understanding the key risks to inform strategic, governance, risk and compliance programs. This year’s report also includes contributions from Kroll, the global leader in complex investigation, security and cyber solutions which Duff & Phelps acquired earlier this year. Our combined organization now has nearly 3,500 employees located in 28 countries around the world, which has extended our market reach, insights and capabilities.
In compiling this research and analysis, we have drawn on Corlytics’ extensive RiskFusion Global Enforcement database for the period 1 January 2013 to 30 June 2018. Corlytics is a world leader in determining of regulatory risk impact. The firm prioritizes and selects penalties for inclusion in the database based on the following criteria:
- Enforcement penalties from high priority financial services regulators (see Appendix for regulators included).
- Enforcement penalties greater than US$1 million or equivalent across all selected regulators.
- All enforcement penalties (including those below US$1 million) for financial services firms and associated individuals with assets greater than US$25 billion on the date of the enforcement.
- Enforcement penalties cover enforcement actions against both firms and individuals. For individuals, the US$1 million threshold does not apply, rather the scope includes penalties for those selected firms.
Please refer to the Appendix for a list regulators included in this research, as well as the category descriptions for regulatory control failings.