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UK regulators are getting tougher on financial crime by issuing tougher penalties to wrongdoers, according to new analysis

21 December 2015

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Research recently released shows that, over the past two years, the punishments handed out by the UK’s regulatory bodies – the Financial Conduct Authority (FCA), the Serious Fraud Office (SFO), the Competitions and Markets Authority (CMA) and the Office of Fair Trading (OFT) – saw fines rise by 271% percent. Prison sentences increased by 124%; with company directors facing an average prison sentence of four years or more.

The findings showed that 58% of cases investigated by the SFO resulted in prison sentences, 56% of cases investigated by the FCA resulted in fines and that 95% of cases investigated by the CMA and OFT were due to a proposed or completed merger or acquisition. That last statistic is particularly telling – indicating that the circumstances are right for crime when the working environment is possibly lacking established and tested compliance systems.

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