October 10 2016
As of October 5, the combined total of fines from the Financial Conduct Authority and the Prudential Regulation Authority in 2016 was £36.5 million, according to analysis by regulatory technology firm Wolters Kluwer. That compares with £906 million in all of 2015, almost £1.5 billion in 2014 and about £335 million in 2013, when the FCA and PRA were set up in the April that year.
There has been a particularly sharp fall in the share of all fines levied against banks. Those account for less than 7% of fines so far in 2016, compared with more than 90% in each previous year. Bank fines totalled £2.4 million in the year to October 5, compared with £851 million in 2015.