FCAC announces an administrative monetary penalty paid by the Bank of Montreal of CAD 4 million (USD 2.9 million) for failing to provide customers with required disclosures on personal deposit accounts, breaching consumer protection provisions under the Bank Act.

FCAC - Financial Consumer Agency of Canada

Source

Published on Feb. 2th, 2026 Published on Feb. 2th, 2026

Scenario: Conduct / Client Overcharging

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Apr. 1st, 2026

Take a look at this recent Q&A on Risk.net featuring Nedim Baruh and Patrick Naim: "Industrialising the challenge process: AI in operational risk scenario analysis"

Structured scenarios have significantly enhanced the way scenario analysis is carried out, especially when it comes to challenging assumptions. Exchanges with validation teams are far more robust compared to earlier, less structured methods. Many thanks to Nedim Baruh and Zoi Fletcher for this insightful discussion, and to Risk.net for sharing it.