The retail sector is bearing the brunt of FSA fines in an indication it is being targeted by a retail-focused regulator, said compliance firm Wolters Kluwer Financial Services.
According to Wolters Kluwer, fine figures for 2011 point to a regulatory focus on the retail sphere. The insurance sector is on course to break its yearly record (£7,802,957 in 2010) with fines for the period January to August already totaling £6,920,000 - standing at just under 24% of the running total of fines. Making up a further 5% of the total fines this year is the mortgage sector, it added. Nor does the retail banking sector get off lightly - of five major fines dished out in 2011 against both wholesale and retail banks, four were retail based totaling £15,127,559. "Given...
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