Fining firms is only part of the solution to rooting out misconduct in the financial system, the FCA has said.

A company director who ran a financial advice firm has been banned and fined £29,300 by the FCA for falsifying qualifications.

The FCA has fined Canara Bank £896,100 and has imposed a restriction, preventing it from accepting deposits from new customers for 147 days.

The Pensions Regulator has warned that it will take firm action, including prosecution, against employers who fail to pay into pensions after its first successful court case against an employer for failing to contribute to an auto-enrolment scheme.