Investment bank JP Morgan's combined £572 million fine today by UK and US regulators over the 'London Whale' trading scandal is the second biggest banking fine, behind HSBC's £1.1 billion money laundering penalty in 2012.
Here is a breakdown of the biggest fines in banking history:
- 1) Bank: HSBC (2012). Fine: £1.1 billion. Reason: Money laundering.
- 2) Bank: JP Morgan (2013). Fine: £572 million. Reason: 'London Whale' trading scandal.
- 3) Bank: UBS (2009). Fine: £485 million. Reason: Tax evasion.
- 4) Bank: Standard Chartered (2012). Fine: £415 million. Reason: Anti-sanctions.
- 5) Bank: ING (2012). Fine: £385 million. Reason: Anti-sanctions.
- 6) Bank: Goldman Sachs (2010). Fine: £359 million. Reason: Misleading investors.
- 7) Bank: Credit Suisse (2009). Fine: £333 million. Reason: Anti-sanctions.
- 8) Bank: ABN Amro (2010). Fine: £311 million. Reason: Anti-sanctions.
- 9) Bank: Barclays (2010). Fine: £280 million. Reason: Libor manipulation.
- 10) Bank: Lloyds Bank (2009). Fine: £218 million. Reason: Anti-sanctions.
More top news
Doctors have recommend Peter Sutcliffe be moved to high security prison, but the final decision will be taken by the justice secretary.
Last minute suspension of strike action has meant thousands of cancelled procedures will still not go ahead.
Children in the North and the Midlands are less likely to get a good secondary education than those in the South, schools inspector to say.