FCA delivers £334m of redress from financial services firms in 2015/16

According to its third annual report, published today, the FCA also issued 17 fines against individuals totalling £4.2m over the year, as well as banning 24 people and seeing jail sentences totalling 32 years and nine months' imprisonment handed down to those it prosecuted. There were also eight criminal convictions for unauthorised business. Principal areas in which the FCA worked to secure redress for customers of financial services firms were payment protection insurance, high-cost short-term credit, card protection mis-selling and interest rate hedging products. Tracy McDermott, p...