The FSA collected £96.7m in fines in the 12 months to the end of March, almost trebling the £33.1m taken during the previous year.
Of the total figure, £86.9m was collected through just 15 fines, according to City law firm Reynolds Porter Chamberlain (RPC). Jonathan Davies, partner in RPC's Financial Services team, says: "The FSA has now begun the internal reorganisation that will result in its replacement and these fines show that it is making every effort to go out with a bang. "We are now beginning to see fines for conduct that occurred at the start of the credit crunch. There has been a steady increase in the number and value of fines imposed since September 2008, but this is by far the biggest jump." The...
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