Banks can expect more pain, warns City's top enforcer Tracey McDermott

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The Independent

James Moore

Monday 13 August 2012

Tracey McDermott says further 'tough' action awaits, as fines hit record levels

The Financial Services Authority's new chief policewoman has warned the City that there will be no let-up in the tough line taken in response to a string of scandals.

The regulator has already smashed its 2010 record of £89.1m in fines, with the running total standing at £94.2m for the first seven months of this year.

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