Fines totalling £ 7 ##m have been handed out by the Financial Conduct Authority in 1H2016 , down from £ 819 m the previous year . The number of fines in the first half of 2016 was also down , 13 compared to 18 in 2015 . The reduced numbers coincide with the arrival of chief executive Andrew Smith , who replaced the ousted David Wheatley , 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 the Financial Conduct Authority in 1H2016, down from £819m the previous year. The number of fines in the first half of 2016 was also down, 13 compared to 24 in 2015. The reduced figures coincide with the arrival of chief executive Andrew Bailey, who replaced the ousted Martin Wheatley, considered by many to be a hardliner. Experts expect to see an "uptick in fines" in the second half of this year.