Fines by the regulator in 2014 rose 68% on the previous year to £1.47 billion
British regulator the Financial Conduct
Authority (FCA) is set to make 2015/16 another record year for
fines after ordering nearly £800m in penalties in the
first six months alone, according to a new research report that
suggests the average size of fines is also increasing.
Libor and rate rigging are behind the
biggest fines from the FCA, said Nera Economic Consulting in
its 'Trends in Regulatory Enforcement in UK Financial Markets:
2015/16 Mid-Year Report.’
The report said that, following the
£794m already imposed by the regulator in the first half
of the current financial year, the FCA is on track to exceed
the "unprecedented" fines and penalties that it imposed during
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