The FSA handed out heavier fines to fewer firms in 2009, figures show.

According to law firm Reynolds Porter Chamberlain (RPC), the FSA fined 39 firms a total of £34.8m this year. This compares with 50 fines in 2008 worth £22.6m.

RPC says 2009 saw eight companies fined £1m or more.
The average fine handed down by the FSA in 2009 was £891,000, up 97% on 2008 when it was £453,000.

The average fine against individuals jumped 60% to £70,303 in 2009, up from £43,854 the previous year.