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
- Markerstudy buys Co-op underwriting in £185m deal
- Markerstudy to use Co-op’s brand after deal
- Aston Lark buys Irish broker Robertson Low
- Mark Cliff joins Be Wiser as NED
- Ageas consults on closure of Stoke and Port Solent operations
- Axa UK hires Shali Vasudeva as COO from Hiscox
- InsurTech Futures: Zurich partners with travel start-up Pluto