FCA building
The FCA has issued more than £73m in fines so far in 2014 according to newly released figures.
Data from Wolters Kluwer Financial Services showed the authority has issued fines adding up to £334,842,447 last year from the point it took over from the FSA in April 2013.
In total it has dished out fines worth £408,035,147 since it came into being.
The figures showed it handed out £73,192,700 in penalties in total so far this year up until March.
The biggest fine it has issued since being created was £137m on JP Morgan Chase Bank.
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Homeserve Membership has been given the highest fine in 2014 - £30.6m.
One of the six penalties issued this year was to an IFA – Ewan King – who was fined and banned by the FCA for fabricating statements of professional standing –in the first case of its kind last month.
Misleading information or mis-selling stands as the most common breach of rules incurring penalties since the FCA was created.
