You are here: Home - First Time Buyers - News -

FCA fines soar 43% in 2013 as regulator bites back

0
Written by:
11/12/2013
Fines levied by the regulator against the financial services industry soared by almost 50% this year, as the tougher stance of the new Financial Conduct Authority (FCA) left its mark.
FCA fines soar 43% in 2013 as regulator bites back

A raft of high profile names have been put in the frame since the FCA took over the regulatory reins in April, including Clydesdale Bank, Royal Bank of Scotland, Lloyds and the Co-operative Bank.

The total amount of fines under the FCA is £444.2m. Add to this the swansong of fines levied by the outgoing Financial Services Authority (FSA) in the first three months of the year – £1.9m – and the total for 2013 is £446.1m.

This compares to £311.5m under the FSA in 2012 – a 43% increase in a year.

Tagged:

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Six bank statement mistakes that can ruin a mortgage application

Being overdrawn and having a history of payday loans can be red flags to lenders when they...
Six bank statement mistakes that can ruin a mortgage application

One in seven landlords unaware of looming energy-efficiency rules

Landlords risk their properties becoming unrentable if they don't meet the required standa...
One in seven landlords unaware of looming energy-efficiency rules

Revealed: The winners of the Your Mortgage Awards 2020/21

Find out which mortgage lenders offer the best products and services in a highly competiti...
Revealed: The winners of the Your Mortgage Awards 2020/21

Guide to borrowing past retirement age

As an older borrower, you may be concerned that a lender will not offer you a mortgage pas...

Mortgage market biased against homeowners

Buy-to-let property investors are unfairly favoured in the mortgage market, an independent...

Should buy-to-let investors ‘go Dutch’?

The Netherlands is revealed as Europe’s top buy-to-let property hotspot

Private sector tenants in poverty double in decade

The number of private rented sector tenants in poverty has doubled in the last decade from...

Large mortgage broker firm launches with fees of over 1%

An insurance firm has launched a mortgage advice service

Second steppers targeting detached properties

Those living in their first home are increasingly looking to reduce the steps to their lon...

Mortgage Calculators