regulation

Martin Stabe

Banks have paid more than $160bn in fines and legal settlements with US regulators since the financial crisis, data compiled by FT reporters shows. Update, May 22, 2015: Six global banks – Bank of America, UBS, RBS, JP Morgan, Citigroup, and Barclays – will pay more than $5.6bn to settle allegations that they rigged foreign exchange markets. Separately, New York’s banking regulator is intensifying a probe into the use of computer-driven currency trading to allegedly abuse forex markets. Update, April 24, 2015: The data now includes Deutsche Bank’s settlements over Libor manipulation. Deutsche Bank paid out $775m to the US Department of Justice, $800m to the Commodity Futures Trading Commission and $600m to the New York Department of Financial Services. Update, November 12, 2014: Our dataset now includes the settlements with the US Office of the Comptroller of the Currency and the Commodity Futures Trading Commission relating to the global probe into allegations of widespread forex rate-rigging. The new data bring the total fines and settlements in 2014 to $56.7bn, making it the most expensive year on record. Update, August 7, 2014: Bank of America’s $16bn settlement over allegations of misselling mortgage-backed securities brings the total for the first eight months of 2014 to more than $54bn, exceeding the total collected in the whole of 2013.

You can now download the full bank fines data as a CSV file that can be imported into any spreadsheet or statistical software package. This link will always provide the most up-to-date version of the data compiled by the FT.

Kate Allen

by Kate Allen and Hannah Kuchler

Food-related law enforcement, that’s how.

On the face of it, the UK has a fairly strict food hygiene and safety system. But the rapidly-widening horsemeat scandal has prompted questions about the effectiveness of the UK’s food law enforcement systems. And a look at performance data collected by the the Food Standards Agency shows a picture of falling sampling and lower staffing levels.

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