Towards the end of 2024, we have analyzed for the sixth time how fines imposed by the Supervisory Authority (“Supervision” “Authority” or “MNB”) have changed, which sectors have been most affected and what measures the Authority has called on financial sector participants to take. The deficiencies identified include a significant number of failures, shortcomings and breaches of the law related to market manipulation consumer protection, and corporate governance - especially IT and information security. Furthermore, significant fines were imposed for the activity of “placing a financial asset without a commitment to purchase the asset” (which is actually a form of placing the financial asset on the market). In addition, the stakeholders need to place more emphasis on the prevention of corporate governance failures in the future as well.
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