In a consultation paper published yesterday (15 June), the regulator revealed it is looking to raise the minimum fine for serious cases of market abuse for individuals to £150,000 from the current level of £100,000.
The consultation on changes to the FCA’s Decision Procedure and Penalties Manual (DEPP) said the move was intended to bring the penalty, first introduced in 2010, in line with inflation.
The FCA aims to automatically peg the new penalty to the Consumer Price Index including owner occupiers’ housing costs (CPIH).
It also plans to take individuals’ wealth into account whe…