Fines totalling £7m have been handed out by FCA in 1H2016, down from £ 819 m 2015 . The number of fines in the first half of 2016 was also down, 13 compared to 13 in 2015 . The FSA was heavily criticised during the financial crisis for going easy on the City and allowing risks to build up in the system. The reduced figures coincide with the arrival of chief executive Martin Wheatley , who replaced the ousted Andrew Bailey , considered by many to be a hardliner. Experts expect to see an "uptick in fines" in the second half of this year .
Fines totalling £7m have been handed out by FCA in 1H2016, down from £ 819 m 2015 . The number of fines in the first half of 2016 was also down, 13 compared to 13 in 2015 . The reduced figures coincide with the arrival of chief executive Martin Wheatley , who replaced the ousted Andrew Bailey , considered by many to be a hardliner. Experts expect to see an "uptick in fines" in the second half of this year .