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.
- Das v Asplin: Guilty three sentenced to 15 years
- CII investigating disciplinary action for Paul Asplin after conviction
- Resisting Toba change would be “lunacy” – Tim Ryan
- Whiplash reforms delayed until 2020
- Biba launches industry standardised Toba template
- Brokerbility targeting up to 10 new members
- One Broker axes KTIB brand