APFA called for redistribution of fines to cover compensation cost
Discovered a string of failings
But firms will not operate much differently than they do today
Was warned of fine in December
Tribunal casts doubt over integrity failings
Santander has set aside £43m to cover claims relating to the sale of wealth and investment products after the bank was fined by the regulator for advice failings.
The Pensions Regulator (TPR) issued 424 fixed penalty notices and five escalating fines against employers for auto-enrolment failures in the year to March.
Financial advisers are renewing calls for the Financial Conduct Authority (FCA) to make better use of the 'exceptionally severe' fines it levies on the industry, including by using them to cut regulatory costs.