The dramatic rise of AI intrigued financial markets, the fallout of 2022’s sweep of WhatsApp fines for the major banks continued to spill over, and spoofing continued to make headlines throughout the year. In this blog we take a look at just some of the key news stories which rocked financial markets and regulated industries over the last 12 months.

Last week, the Financial Industry Regulatory Authority (Finra) fined BofA Securities $24 million for more than 700 – yes 700 - instances of spoofing through two former traders, over a period of 8 years.

The recent sacking of Goldman Sachs' global head of transaction banking services, Hari Moorthy, once again spotlights a complex dilemma facing banking compliance professionals across the world: what to do about WhatsApp?

Earlier this month, the Dubai Financial Services Authority (DFSA) fined Dubai-based FFA Private Bank $370,000 over the firm’s failure to identify, assess and report instances of suspected market abuse by traders between 2018 and 2021.