FSA looks into triple fines

The Financial Times is reporting that the UK’s Financial Services Authority might consider imposing fines three times as much as part of tougher regulatory enforcement on wrongdoings such as insider trading.

Penalties for financial wrongdoing would be tripled and fines for insider dealing and other market abuse set at a minimum of £100,000 ($162,000), under proposals by the City regulator that underline its tough new approach to enforcement.

The Financial Services Authority yesterday proposed that a company could be fined up to 20 per cent of its income from the product or business line related to the regulatory action.

The entire news HERE.

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