Insurance industry achieves FCA fine free 2023
The Financial Conduct Authority dished out £52.8m in fines in 2023, the second lowest total since the regulator was formed in 2013.
The insurance industry went through the calendar year without being hit with any financial penalties by the watchdog.
The largest fine, of £17.2m, was handed down to ED&F Man Capital Markets in June.
The business was punished for serious failings where it collected millions in fees for trading strategies designed to enable its clients to illegitimately reclaim tax from the Danish authorities.
QuarterThe 2023 total was less than a quarter of the £215.8m issued in 2022.
In that year JLT Specialty was
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- Zurich strikes five-year capacity deal with MGA Freedom Services
- Aviva to open branches in Chelmsford and Southampton
- Dual to open two UK offices as McGinn’s regional push gathers pace