Martin Wheatley, the chief executive of the Financial Conduct Authority (FCA), has said he wants the regulator's legacy to reflect that it ensured wrongdoers "faced the full consequences" of their actions.
Speaking at a Treasury Committee hearing on Tuesday, Wheatley said he wanted the regulator to be seen as tough and, in a clear warning to the city, said it would continue to dish out heavy fines for misconduct where merited. This is despite remarks from FCA chairman John Griffith-Jones, who said he did not want the organisation to be measured by the size of the fines it levies. The FCA handed out fines worth more than £400m last year. Wheatley said: "Where there is clear misconduct, we want [offenders] to face the full consequences, and yes we do want that to be a legacy." In Ma...
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