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
- Industry responds to reports of sexual harassment in Lloyd's
- FCA urges firms to apply for TPR and FSCR ahead of Brexit
- Ageas teams up with Darwin Clayton in £45m deal
- Marsh-parent raises $250m of fresh debt
- Blog: Future-proof professional indemnity
- Simon Matson says ‘complicated fat Arab’ slur regrettable but not discriminatory: Gallagher v Ardonagh
- UK Broker Awards open for entries