The Financial Conduct Authority has today fined The Prudential Assurance Company Limited £23.875m for failures related to non-advised sales of annuities.

FCA chief executive Andrew Bailey’s pay and perks have surged to £589,000, the regulator’s annual report has revealed.

Total staff bonus payments in the UK in the 2015/2016 financial year reached £44.3 billion, a record in cash terms, and 4.4% higher than the previous year.

Senior bosses at banks and some investment firms face paying back bonuses going back as far as 10 years if misconduct is discovered. Read more...