Sign up for free newsletter

 

Union Jack Pound

British firms fined over GBP500m by FCA in 2013, says Kinetic Partners

The Financial Conduct Authority (FCA) penalised British firms a total of GBP506.94m (USD770m) in 2013, according to research from Kinetic Partners.

The penalties handed down by FCA to individuals totalled GBP5.42m (USD8.23m) in 2013.
 
While the amount fined to individuals only accounted for slightly more than one per cent, the number of fines that the FCA brought against individuals (20) accounted for 44 per cent of the total number of cases during the same period.
 
Nick Matthews, senior member of forensic and corporate recovery practice at Kinetic Partners,
says: “Our research shows that British firms continue to be fined and demonstrates the increasingly tough stance that regulators are taking against financial services firms. Regulators have certainly publicised their efforts to increase enforcement activity and deter negligent or harmful behaviour.
 
“For those working in financial services firms with oversight responsibilities, ensuring you have done everything you can to mitigate the risk is becoming ever more important.”


Subscribe to free daily newsletter
latestjobs
Analyst/Associate Healthcare Investment Banking

Mon, 31 Aug 2015 00:00:00 GMT

Ph. D / Quantitative Researcher - NYC

Mon, 31 Aug 2015 00:00:00 GMT

Investment Banking Restructuring Analyst/Associate

Mon, 31 Aug 2015 00:00:00 GMT

events
1 week 5 hours from now - New York
1 week 1 day from now - New York
1 week 6 days from now - London
2 weeks 5 hours from now - California
specialreports