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UK watchdog targets bankers with big rise in penalties

"Wayward UK bankers risk increasingly large fines as the amount of individual penalties levied by the country’s financial watchdog has increased 76 per cent over the past two years.

"The Financial Conduct Authority and its predecessor meted out fines totalling £35.5m on individuals in 2012 and 2013, compared with £20.1m in 2010 and 2011, while it also imposed more lifetime bans, barring 72 people in 2013 from working in financial services, compared with 66 in 2012, according to new research.