2023 fines

This page contains information about fines published during 2023. The total amount of fines so far is £52,802,900.

Firm or individual fined Date Amount Reason
Equifax Limited 13/10/2023 £11,164,400 This Final Notice relates to the outsourcing of data processing to an intragroup entity which experienced a data breach. The Final Notice refers to risk management failings (Principle 3) and failings in relation to treating customers fairly and communicating information in a way which is clear, fair and not misleading following a data breach. We imposed a financial penalty.
ADM Investor Services International Limited 02/10/2023 £6,470,600 This Final Notice refers to breaches of Principle 3 of the FCA’s Principles for Business related to serious financial crime control failings in the Wholesale Intermediaries and Brokers sector. We imposed a financial penalty. 
Bastion Capital London Limited 13/07/2023 £2,452,700 This Final Notice refers to breaches of PRIN 2 and PRIN 3 related to the risk of financial crime in the trading firms sector. We imposed a financial penalty.
Paul Steel 04/07/2023 £3,694,400 This Final Notice refers to breaches of APER 1, 2 and 4, and COCON 1 and 3 related to the provision of unsuitable defined benefit pension transfer advice in the pensions sector. We imposed a financial penalty and a prohibition.
Mark Antony Abley 26/06/2023 £106,100 This Final Notice refers to breaches of APER 2 related to the provision of unsuitable defined benefit pension transfer advice in the pensions sector. We imposed a financial penalty and a partial prohibition.
ED&F Man Capital Markets Ltd 05/06/2023 £17,219,300 This Final Notice refers to breaches of PRIN 2 and PRIN 3 related to wholesale conduct in the trading firm sector. Our view is that a financial penalty should be imposed.
Al Rayan Bank PLC 11/01/2023 £4,023,600 This Final Notice refers to breaches of Principle 3 related to Financial Crime in the Retail Bank sector. We imposed a Financial Penalty.
Guaranty Trust Bank (UK) Limited (GT Bank) 10/01/2023 £7,671,800 This Final Notice refers to breaches of PRIN 3 related to the risk of financial crime in the wholesale banking sector. We imposed a financial penalty.