The Commodities Futures Trading Commission's (CFTC) $12.7 billion decision against FTX and Alameda stands out among these measures as a crucial turning point for the bitcoin markets. Two years after the collapse of FTX indicated the beginning of a serious decline in the cryptocurrency industry, this decision is a big step towards more accountability.

The analysis by Corlytics reveals a wide range of regulatory actions, not just in the cryptocurrency space but also in other financial domains. There has been a discernible rise in fines throughout this time, and authorities have started ground-breaking enforcement operations that have set new legal precedents.

The firm's head of legal and regulatory analysis, Susie MacKenzie, remarked on the stringent regulatory approach. This third quarter has seen the regulators come roaring into action, both in terms of the amount of fines levied and with some firsts in terms of enforcement. One particular event stands out for its scope and prominence: two years ago, the demise of FTX rocked the cryptocurrency world, sparking concerns about an extended "crypto winter."

In August, the CFTC achieved a $12.7 billion judgment against FTX and Alameda. "The basic regulatory tools, like governance, customer protections, and surveillance that exist to identify misconduct and ultimately prevent collapse, were simply not there," the CFTC said in identifying fundamental shortcomings.

The US regulatory agenda continues to place a strong priority on recordkeeping errors, particularly the use of unapproved communication channels like WhatsApp. The Securities and Exchange Commission (SEC) has highlighted the advantages of self-reporting and cooperating, implying that these actions might lessen fines. Similar measures from UK authorities, meanwhile, are still waiting as businesses are advised to follow strict recordkeeping guidelines in light of the rise in remote employment and compliance issues associated with mobile apps.

Consumer protection is also a significant priority in the US, evidenced by the Consumer Financial Protection Bureau’s (CFPB) $20m penalties against TD Bank. In addition, the bank was mandated to make reparations exceeding $7 million for providing credit reporting organizations with false and unfavorable client data.

The Financial Conduct Authority (FCA) in the UK levied its first-ever fine against an audit company. PwC was penalized for neglecting to disclose possible fraud at London Capital & Finance. Furthermore, Starling Bank was fined around £30 million by the FCA for having "shockingly lax" financial crime procedures. Holding financial organizations responsible for their internal security measures is a big step forward with this.

As part of a larger campaign against deceptive environmental claims, the Australian Securities and Investments Commission (ASIC) also took major action, fining Mercer Superannuation £11.3 million in its first greenwashing case.

In conclusion, Mackenzie stated, "It is evident that the SEC is stepping up its scrutiny on senior employee behavior as we keep an eye on regulatory developments. They have emphasized the value of collaboration and self-reporting this quarter, saying that taking these steps may result in much lower fines. Firms need to be on the lookout for recordkeeping problems brought on by off-channel conversations, especially in light of continuous enforcement. The ever-changing environment highlights the significance of taking proactive compliance procedures.