| Financial watchdogs across three continents are targeting fewer, high-profile cases to levy ever-larger fines, despite growing recognition that even $1bn penalties do not work by themselves to prevent wrongdoing. Regulators in Hong Kong, the UK and the US increased the average size of their fines by at least 10 per cent from 2013 to 2014. The UK’s Financial Conduct Authority’s average penalty soared 272 per cent, new research shows.
Over a five-year period the increases were more stark: the US Commodity Futures Trading Commission’s average fines rose 772 per cent, while the FCA’s jumped 1,815 per cent...............................................Full Article: Source
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