FSA fines up by 514 per cent

The Financial Services Authority (FSA) has delivered on its vow to toughen up on market abuse, fining companies and individuals a record-breaking total of £27.3m in the year to 31 March, a 514 per cent increase on the previous year. Over the period, the regulator prohibited 46 individuals or companies from carrying out regulated activity – more than in all of the FSA’s previous 12 years put together. The figures do not include the significant crack-down over the past few months, which has seen several more individuals banned from trading.