FSA penalties likely to continue to grow

handing-over-british-money

The escalation in fines handed out by UK regulator the Financial Services Authority (FSA) is likely to continue, say experts.

Over the course of 2010, the FSA handed out a total of more than £89 million in fines. Two individual cases relating to JP Morgan and Goldman Sachs made up more than half this amount, and represent the largest financial penalties the FSA has ever given. The 2010 total is almost three times the amount doled out by the regulator in the previous year, when it issued £35

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