The FCA has imposed a further 13 fines since March.

Recent large fines include

• the BNY Mellon’s London and International branches’ £126 million fine for failure to comply with custody rules and
• Deutsche Bank’s £227 million fine for LIBOR and EURIBOR related mis-conduct.

Personal fines have also been a priority;

• on 26 May, the FCA fined the former CEO of Keydata a record penalty of £75 million for breaches of Statements of Principle 1 (integrity) and 4 (relations with regulators).

This fine is nearly 13 times the previous highest fine against an individual and is equal to the fees and commissions the CEO allegedly took from investors.