Law firm claims more companies may fight FSA decisions
Mathew Rutter, financial services partner at law firm Beachcroft, said: "The FSA has told firms to "be afraid", and now we know why."
Commenting on the FSA report, Mr Rutter said: "Athough many will welcome higher fines for those who break the rules, any increase in the cost of doing business ultimately has to be paid for by the customer. It would be simplistic to say 'if you're one of the good guys, you've got nothing to worry about'.
"Even firms which do not get hit with higher penalties may well incur greater compliance costs as a result of this tougher approach. There is certainly a case for more rigorous enforcement
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