Fines given by UK FCA ballooned in 2019
UK regulator dishes out fines for AML breaches, mis-selling and poor treatment of consumers
The total value of fines issued by the UK’s Financial Conduct Authority increased significantly in 2019, a large share of which were related to how financial firms treated their consumers.
According to the latest official statement from the FCA, 21 firms were fined a total of £392.3 million ($510 million) last year, a sharp rise from 2018 when the regulator issued fines worth £60.4 million.
The level of fines has been volatile over the years (see figure 1). There has been a slight upward trend
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