Wolters Kluwer said that fine figures for 2011 point to a regulatory focus on the retail sphere, in particular insurance and mortgages.
It said that the insurance sector is on course to break its yearly record of £7,802,957 in 2010, with fines for the period of January to August already totaling £6,920,000.
This stands at just under 24% of the running total of fines.
Making up a further 5% of the total fines this year is the mortgage sector, Walter Kluwer added.
In addition, the retail banking sector has not got off lightly – of five major fines dished out in 2011 against both wholesale and retail banks, four were retail based totaling £15,127,559.
“Given the figures so far this year, it does seem clear that the FSA’s focus is very much retail based,” said Wolters Kluwer.
“It may have taken its eye off the larger corporate and wholesale sector and it remains to be seen as to whether the regulator in its current form will be caught napping.”
Meanwhile, August’s figure of £341,499 represents the second-lowest monthly total for fines this year, the firm said.
