FCA increasing fines on individuals
The FCA’s direction of travel is clear: earlier intervention, stronger deterrence, and greater focus on individual accountability.
In its recent consultation on penalty and decision-making policies, the FCA is proposing targeted changes including:
• raising the minimum penalty for the most serious individual market abuse cases from £100,000 to £150,000
• making clear that penalties for wealthier individuals may be increased for deterrent effect
• clarifying how deferred bonuses, pay and shares are treated when calculating penalties
This matters because regulatory risk is not only firm-level risk.
For firms carrying out due diligence, onboarding, panel reviews or ongoing monitoring, the history and connections of key individuals can be just as important as the status of the regulated firm itself.
As the FCA put it in a recent enforcement speech:
“The regulator is always watching and working, even when – especially when! – you don’t realise it.”
At Watchdog Services, we help firms monitor regulatory, corporate and connected-individual risk across FCA-regulated businesses.