Three ways to avoid a regulatory fine

Carmen Reichman
clock •

Firms must learn from the mistakes of their peers to avoid falling foul of the regulator's rules and its increasing willingness to dish out large fines, a consultancy has warned.

The Consulting Consortium (TCC) said that the Financial Conduct Authority (FCA) has been demonstrating clearly over the past six months that they will be holding firms and individuals to account for their actions. Firms should therefore take the opportunity to learn from the mistakes of others to avoid getting fined themselves. In the past six months the FCA has dished out at least 24 fines to 11 individuals and 13 firms totaling almost £202m. The regulator fined individuals a total of £2.7m, while firms were asked to hand over around £199.3m. TCC head of policy Rebecca Prestage sa...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Celtic FP founder launches online admin platform for advisers

Celtic FP founder launches online admin platform for advisers

‘Developed by people who understand the industry’

Jenna Brown
clock 10 November 2026 • 2 min read
Budget BADR changes could drive flurry of advice M&A but unlikely to hit valuations

Budget BADR changes could drive flurry of advice M&A but unlikely to hit valuations

Firms urged not to rush sales

Isabel Baxter
clock 09 November 2026 • 4 min read
Verve Foundation launches financial planning career pathfinder

Verve Foundation launches financial planning career pathfinder

Free tool is for all candidates exploring roles and vacancies

Sophia Panayi
clock 09 November 2026 • 1 min read