Lawyers reveal record levels of fines for companies let down by their directors and officers

Fine warning

SMEs racked up over £60m in D&O fines in 2021, compared to £120m between 2016-2020, according to law firm BLM.

Fines totalling nearly £500m were handed out to UK companies during 2021, BLM has calculated.

According to the specialist insurance risk and commercial law firm the figure highlights the importance of appropriate directors and officers’ insurance.

The total included fines from four major UK regulators, including the Serious Fraud Office, Financial Conduct Authority, and the Information Commissioner’s Office, BLM stated as it revealed the update from its ‘D&O Tracker’.

The largest fine, worth

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FCA warns of Axa clone

The Financial Conduct Authority has warned of a clone claiming to be Axa Insurance UK and Axa Investment Managers UK.

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