FCA says it handed down £216m in penalties in 2022/23

FCA reveals it is investing in technology to improve investigations

Sahar Nazir
clock • 1 min read

The Financial Conduct Authority (FCA) has imposed financial penalties of nearly £216m over the last financial year.

In a speech delivered today (1 June) by the FCA's joint executive director of enforcement and market oversight Therese Chambers, it was revealed that the watchdog will prioritise imposing "the maximum possible penalties" on firms and individuals that do not comply with regulations. Chambers said the FCA is investing in data and technology to improve its investigations. "It is already harder than ever to hide. Early detection is always more effective," she said. The regulator has secured convictions against four people for a binary option fraud and started prosecutions into alleged ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Feel Good Friday: Nine Edge Wealth sponsors young Scottish boxer

Feel Good Friday: Nine Edge Wealth sponsors young Scottish boxer

Sponsors Lara Brown

Professional Adviser
clock 17 July 2026 • 1 min read
Women's Wealth Alliance launches careers guide to attract more women to personal finance profession

Women's Wealth Alliance launches careers guide to attract more women to personal finance profession

Aimed at women at different stages of life and careers

Professional Adviser
clock 16 July 2026 • 3 min read
Women in Financial Advice Awards 2026: Shortlists revealed!

Women in Financial Advice Awards 2026: Shortlists revealed!

All the winners will be announced at a celebratory gala dinner on 4 November

Professional Adviser
clock 15 July 2026 • 10 min read