FCA fines are on course to hit their lowest annual total since the regulator was created in 2013, according to new analysis.

As of 30 June, just £12.3m in fines have been imposed so far this year.

If that level of fines continues in the second half of 2025, that puts the year on track for a potential total of around £25m, around a seventh of the fines made in 2024.

Last year's total fines made by the FCA was £176m, largely driven by penalties against major banks including Barclays and Starling.

To date the lowest amount of fines made by the regulator in a year was the £35.3m recorded in 2016. 

The new findings have been published by financial services intelligence firm Hackford to mark the launch of its platform containing comprehensive FCA fines data going back to 2013.

Dan Robinson, Founder and chief executive of Hackford, said: “Last year, fines hit £176 million, but this year we're on track for just £25 million, the lowest ever. It begs the question: has the FCA whipped everyone into shape, or has it lost its sting?”

The data shows that total FCA fines handed out between 2013 and the first half of 2025 was £4.79bn across 292 enforcement actions.

The median fine over the 12 years has been £5.62m for firms and just £100,000 for individuals.

The largest single fine recorded by the FCA was £284m on Barclays Bank in 2015 for foreign exchange failings. The largest individual fine imposed by the FCA was £76m on Keydata founder Stewart Ford in 2019.

The FCA's most recent fines were imposed on Craig Donaldson and David Arden, former CEO and CFO of Metro Bank, who were fined £167,325 and £100,950 respectively last month for being knowingly concerned in a breach of the listing rules.

Metro Bank was fined £10m in December 2022 for breaching the Listing Rules by publishing incorrect information to investors.

Launched in June, Hackford's platform allows compliance consultants and regtech teams to search, segment, and monitor all FCA-regulated businesses and professionals. The company said the platform combines regulatory data from the FCA Register and other public sources, offering real-time search by firm type, regulatory permissions, and key individuals.