FSA's record fine haul...to be passed back to the banks

Investment banks may have paid a record amount of fines to the UK regulator this year; but there may at least be one benefit: reduced fees in 2011

Investment banks may have paid a record amount of fines to the UK Financial Services Authority this year. But there may at least be one benefit: reduced fees in 2011.

According to the UK regulator, the FSA has levied a record £80m in fines so far this financial year. The figure of £80m represents around 18 per cent of the FSA's current budget, with four months still left in the financial year.

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