Deutsche and BNY Mellon fines push FCA total to near-record
Total fines of over £400 million by end-April demonstrate continued regulatory action
The total fines imposed by the UK Financial Conduct Authority (FCA) so far in 2015 have already passed the total for 2013, according to figures collected by Wolters Kluwer Financial Services. Milestone penalties of £126 million ($201 million) for Bank of New York Mellon for failures in its custody activities, and £227 million to Deutsche Bank for its involvement in the Libor-rigging scandal, pushed the total to £412 million by the end of April – compared with £335 million in the whole of 2013.
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