The City regulator said some fines could treble in size as it seeks to address concerns that penalties thus far have not proved much of a deterrent in improving company behaviour.Why not 100%? Why not 'all their assets'? Drug dealers have all of their assets seized - are we really saying that selling grass to make thousands is completely evil, but insider trading for millions is only 40% evil?
It also announced proposals for a minimum fine of £100,000 for individuals found guilty of market abuse offences such as insider dealing. Up to 40 per cent of an individual's salary and benefits could be taken, it said.
This is a blog about interacting systems and how they behave: systems thinking construed broadly. Financial markets and economics; politics; and occasionally physical systems are discussed, with an attempt at focusing on how the rules of the game determine the strategies of participants and the possible outcomes.
Tuesday, 7 July 2009
FSA gets medium rare
Medium rare being of course far from tough. From the Times:
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