The Financial Conduct Authority (FCA) dished out £60,467,212 in fines last year.
This was down substantially on 2017’s £229,515,303 total.
However, the number of penalties handed out actually rose – from 13 in 2017 to 15 in 2018.
The main driver of the discrepancy between the two measures was Deutsche Bank's hefty £163m bill on 31 January 2017 for failing to maintain an adequate anti-money laundering control framework.
The highest ever total was £1.47bn in 2014.
That year was
- Three insurance firms on FSCS insolvency list
- Aston Lark confirms Goldman Sachs investment deal
- Blanc expects Goldman Sachs to invest in Aston Lark for 'at least five years'
- Aspen Risk Management to be placed in runoff
- Aviva continues to top Brokerbility members survey
- Esure hires former Aviva UKGI boss David McMillan as CEO
- Blog: The DNA of brokers is changing