In the annual FSA report published this week the financial watchdog stated it has brought down its outstanding cases to 193 on 1 April, down from 315 for the same time last year. During the last year it opened a further 138 cases but managed to handle and close 260 cases.
The total amount of penalties it levied in 2002/03 amounted to just over £10m.
‘Firms need to understand that failure to meet the required standards is particularly serious, and that where necessary, we will take enforcement action in the interest of consumer protection and market confidence,’ the FSA stated.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements