UK regulatory penalties to banks reach 'staggering' levels
Financial Conduct Authority imposes £421 million in fines on financial institutions in its first full year of operations
The first year of the UK Financial Conduct Authority's existence as a separate regulator saw it break records for the total fines and penalties it imposed on the country's financial sector. Since its creation on April 1, 2013, the total has reached £421 million, £87 million in the first three months of 2014 alone, according to research from Wolters Kluwer Financial Services.
The regulator, and its
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