Wheatley: We'll be tough and, yes, we hope that's a legacy

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...