FSA fines up 53% to £34.8m in 2009
Average fine up 97%, according to law firm Reynolds Porter Chamberlain
The Financial services Authority (FSA) has issued a record-breaking £34.8m fines in 2009, up 53% on the previous year, says city law firm Reynolds Porter Chamberlain (RPC).
According to RPC the average fine handed down by the FSA in 2009 was £891,000, up 97% on 2008 when it was £453,000.
The average fine against individuals jumped 60% to £70,303 in 2009 up from £43,854 in 2008.
Steven Francis, partner in RPC’s financial services team, said: “The FSA is playing to many different audiences and
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