2018 fines

This table contains information about fines published during the calendar year ending 2018. The total amount of fines so far is £27,629,412.

Firm or individual fined Date Amount Reasoning
Liberty Mutual Insurance Europe SE 30/10/2018 £5,280,800 This final notice refers to breaches of PRIN 3, PRIN 6, SYSC, ICOBS and DISP related to complaints-handling, culture/governance and unfair treatment of customers in the general insurance and protection sector. We imposed a fine.
Tesco Personal Finance plc 01/10/2018 £16,400,000 This Final Notice refers to Tesco Bank’s breach of FCA Principle 2 for failing to exercise due skill, care and diligence in protecting its personal current account holders against a cyber attack. We imposed a financial penalty of £16.4 million.
Alistair Rae Burns 20/09/2018 £60,000 This Final Notice refers to breaches of APER 7 and FIT related to conflicts of interest, a lack of fitness/propriety and mis-selling in the investment adviser and pensions sector. We imposed a fine and a prohibition.
John Lawrence Radford 30/08/2018 £468,600 The Final Notice refers to breaches of APER 6, APER 7 and CASS relating to client money/assets and lack of fitness/propriety in the general insurance and protection sector. We imposed a fine and prohibition.
One Call Insurance Services Limited 30/08/2018 £684,000 The Final Notice refers to breaches of PRIN 10 and CASS relating to client money/assets in the general insurance and protection sector. We imposed a fine and restriction.
Darren Colvin Cummings 08/06/2018 £29,300 This final notice refers to breaches of APER 1 and FIT relating to a lack of fitness and/propriety in the general insurance and mediation sector. We imposed a fine and prohibition.
Canara Bank 06/06/2018 £896,100 This Final Notice refers to breaches of Principle 3 and SYSC related to financial crime in the retail bank sector. We imposed a fine and restriction.
James Edward Staley 11/05/2018 £321,200 For breaches of Individual Conduct Rule 2 (COCON 2.1.2) related to conflicts of interest (whistleblowing, CEO accountability) in the retail bank sector. We imposed a fine.
Alexander David Osborne Stuart 26/03/2018 £34,000 For breaches of APER 1 and FIT relating to a lack of fitness/propriety in the investment adviser sector. We imposed a fine and prohibition.
Guillaume Adolph 05/03/2018 £180,000 For breaches of PRIN 5 and FIT related to benchmarks, lack of fitness/propriety and wholesale conduct in the investment bank sector. We imposed a fine and a prohibition.
Vanquis Bank Limited 27/02/2018 £1,976,000 This final notice refers to breaches of PRIN 6 and PRIN 7 related to unfair treatment of customers in the consumer credit sector. We imposed a fine and restitution.
Interactive Brokers (UK) Limited 25/01/2018

£1,049,412 

This final notice refers to breaches of PRIN 3 and SUP 15.10.2R relating to poor market abuse controls and failure to report suspicious client transactions.  We imposed a fine.
Neil Danziger 08/01/2018 £250,000 For breaches of PRIN 5 and FIT related to benchmarks, lack of fitness/propriety and wholesale conduct in the investment bank sector. We imposed a fine and prohibition.