Regulatory enforcement is not just about increasing the size and frequency of fines, but about the industry forcing better behaviours by shunning wrongdoers, Financial Conduct Authority (FCA) enforcement director Tracey McDermott has said.
She said 2014 had been a record year with billions collected in fines and 20 people being banned, but added there is "not an expectation" at the FCA to impose larger or more frequent fines next year. ...
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