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FSA to attach more publicity to enforcement cases

The FSA is to attach more publicity to enforcement action and to the fines it levies against firms in the future, as it believes fines are likely to be small in comparison with the turnover of companies and publicity is more damaging as it diminishes a firm&#39s reputation, brand and future business.

Speaking yesterday chairman Callum McCarthy said: “We will review whether we can act more quickly; and whether we need to act via larger financial penalties. We will act, where justified, against individuals as well as organisations. And always we will remember that enforcement is a recognition of past failure &#45 and that its purpose is to reduce future failure.”

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