The UK Financial Services Authority is one big penalty away from doling out £100m (€126m) in fines in the seven years since its inception. The landmark comes in what is on track to be a record year for the number and value of fines that the regulator has levied.

Fines so far this year amount to £20.5m, making it the FSA's second biggest year for fines since it was created at the end of 2001, according to figures from the regulator's website.