Supervisory expectations in the financial sector

Supervisory expectations in the financial sector


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In our Financial Risk & Regulation newsletter, published in October 2019, we summarized the supervisory focus areas of the previous year in the financial sector. Towards the end of 2020, continuing the period presented earlier, we re-examined how the fines imposed in the sector developed and what the focus areas of inspections were over the past year.

Institutions operating in the financial sector must comply with a number of supervisory requirements and legislation. Regulatory compliance is regularly monitored by the MNB, as a competent authority, within the framework of comprehensive, thematic, targeted and ex-post inspections, as well as market surveillance procedures and ongoing supervision. Decisions published on the MNB's website also serve as a good basis for understanding what the focus of supervisory investigations is and which areas are at risk for compliance. In the past year, in addition to the legal regulations and methodological recommendations, the supervisory authority has also imposed significant fines, the legal basis of which is summarized below.

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