UK watchdog defends hefty fines on banks that break rules
London
STIFFER fines for banks caught trying to rig markets have not undermined financial stability or the ability of lenders to stay solvent, a senior British regulator said on Wednesday.
Georgina Philippou, acting director of enforcement at the Financial Conduct Authority (FCA), dismissed criticisms that recent penalties amounting to billions of pounds were damaging the stability of the industry.
