Martin Wheatley, chief executive of the Financial Conduct Authority, believes behavioural economics will play a part in the FCA's new style of regulation.
Research by Ernst & Young's Fraud Investigation and Dispute Services team has revealed that the total fines issued to UK firms and executives for fraudulent activity has exceeded £1billion in the past five years.
Martin Wheatley, designate chief executive of the Financial Conduct Authority, believes good customer service needs to become the "bread and butter staple" of City firms.
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