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
The Queen celebrates her 89th birthday today - but will she get to share it with her new great-grandchild?
Phil Rudd also pleaded guilty to possessing crystal meth and marijuana in a New Zealand court.
Ed Miliband will order an emergency recruitment drive of nurses so an extra 20,000 will be working in the NHS by 2020.