The Financial Conduct Authority (FCA) handed out £229,515,303 in fines in 2017.
For brokers the figure was dominated by the £4m bill sent to Bluefin. However, Deutsche Bank topped the charts with a £163m punishment.
The 2017 figure was far from the largest annual total – see graph below – but it was certainly not the smallest either.
And compliance experts have stressed that the regulator’s appetite for using the tool will not diminish in the next 12 months or indeed years to come.
- £500,000 Gallagher fraudster jailed for 34 months
- Ardonagh sells remaining Broker Network stake in £30m deal
- Interview: Staysure’s Ryan Howsam
- The Burley Group buys Grace Corporate Insurance Services
- Car insurance premiums rose 8% in 2017
- Stuart Vann out at Esure
- Lark and Aston Scott to rebrand as Aston Lark