The number of fines imposed by the FCA on senior executives for misconduct has dropped by 40 per cent since 2010.
Figures obtained by the law firm Reynolds Porter Chamberlain under the Freedom of Information Act show that 18 fines were handed down to individuals in senior management positions in 2013 for misconduct or rule breaches.
This is 40 per cent lower than the 30 fines imposed on senior individuals in 2010.
The FCA imposed 28 fines of this nature in 2011 and 25 fines in 2012.
About 55,000 individuals who perform a significant influence function are regulated by the FCA.
RPC partner Richard Burger says: “Accountability for senior individuals has been seen as the sharp end of the regulator’s spear, so some will be surprised that more fines have not come through the pipeline yet.
“Enforcement activity has been slowed partly by attention being diverted to tackling major scandals like Libor.”
The figures do not include the number of prohibitions and public censures.
An FCA spokesman says: “Holding individuals to account is clearly an area where we have put a lot of resources. It was also an area the parliamentary commission on banking standards found that we needed to improve upon, so we will be making more proposals soon.”