FCA fines drop to £214.3m in 2022

Fine warning

The Financial Conduct Authority dished out £214,250,056 in fines in 2022, the fourth lowest on record since the FCA was formed in 2013.

JLT Specialty was hit with the only general insurance broking related fine last year.

It was slapped with a £7.9m penalty for financial crime control failings, which in one instance allowed bribery of over $3m (£2.45m) to take place.

The business in question was conducted between November 2013 and June 2017.

The regulator did not fine any UK general insurers in 2022.

The biggest fine in the past 12 months was issued to Santander UK.

The FCA fined the bank £107.8m in December after the

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