UK regulatory penalties for individuals drop £18m in a year

To below £1m

Sophie King
clock • 1 min read

Financial penalties dished out to individuals in the UK dropped from £18.8m in 2016, to a post-financial crisis low of just £970,000 a year later, according to Duff & Phelps' annual Global Enforcement Review.

The compliance and regulation expert said that, in an attempt to improve conduct, global financial regulators had switched their focus from imposing large fines against firms to making individuals more accountable.  In the UK, total penalty figures for firms rose from £71m in 2016 to £866m in 2017, which Duff & Phelps said could be explained by two large penalties issued by the Serious Fraud Office and Financial Conduct Authority (FCA), totalling £673.3m.  Penalities against individuals dropped significantly from £18.8m to £970,000 over the same period, however, representing the lowes...

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 Regulation

Holly Mackay on targeted support: Do you want fries with that?

Holly Mackay on targeted support: Do you want fries with that?

'This does not compete with financial advice. It's an early stepping stone on the advice journey'

Holly Mackay
clock 30 June 2025 • 4 min read
FCA scraps standalone simplified advice regime

FCA scraps standalone simplified advice regime

Regulator will look to amend existing rules

Sahar Nazir
clock 30 June 2025 • 3 min read
Targeted support: Firms warn direct marketing rules risk proactive delivery

Targeted support: Firms warn direct marketing rules risk proactive delivery

FCA working with Information Commissioner’s Office on solutions

Jenna Brown
clock 30 June 2025 • 3 min read