§ Lynne JonesTo ask the Chancellor of the Exchequer how much has been collected in fines from financial service companies for wrongdoing in each of the last three years; and to what use this money has been put. [91087]
§ Ruth KellyThe FSA tell me that the fines that they or their predecessor regulators imposed were as follows:
Period Fines in £ million 1/4/2000 to 31/3/2001 4.6 1/4/2001 to 31/3/2002 8.0 1/4/2002 to 15/1/2003 7.5 Fines received by the FSA are allocated to the relevant regulatory sector and used to reduce fees charged by them to firms in that sector.