FSA fines on Financial Institutions should go to the Treasury

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Petition Action

FSA fines on Financial Institutions should go to the Treasury

Additional Information

Fines paid to the FSA by Financial Institutions for breaching regulations are presently used to reduce the annual fees of Financial Institutions.

Annual fees should be considered as a cost of having a license to conduct Banking activities in the U.K. and should not be subject to discounting.

Government should legislate to make all fines issued by FSA to be paid to the Treasury.

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