They may be going down but they’re going down fighting as the Financial Services Authority (FSA) issues two more hefty fines to rule breaking companies. Photo booth company, Photo-Me, was fined £500,000 for creating a false market for its shares and money broker Vantage was fined £700,000 for allowing an individual too much influence over the company.

These large penalties come in the same week that the coalition Government announced the end of the FSA and it’s replacement in 2012. Maybe the FSA is trying to prove it can regulate, but more likely it’s just carrying on with business in a year that’s seen record levels of fines levied by the watchdog. In total £54.5 million has been handed out  in fines with much of that as a result of mis-sold PPI and financial mis-selling in general.

Related posts:

1. PPI Compensation Claims Up, Housing Market Down, RIP Economy – Not The Best Year Then
2. Mis Sold PPI Claims Reach Record Numbers As New Forms Are Released
3. PPI Compensation To Keep Coming If Fines Are Anything To Go By
4. Mis Sold PPI Isn’t The Only Insurance Policy That Won’t Pay Out
5. Mis Sold PPI Payback Led By Regulators