Imposed sanctions relate to statutory audits of four companies belonging to the same ownership group and were carried out between 2018 and 2020.
Penalties
Regulator says the changes will improve transparency and consistency, in addition to helping it act faster, deter misconduct, and maintain confidence in UK markets.
An increase in fines imposed on firms is likely to result in greater revenue this year, and a reduction in fee for firms that the FCA regulates.
The new policy statement delineates the range of enforcement powers at the BoE's disposal and tries to provide transparency and clarity for firms.
New guidance addresses monetary penalties, recidivism, monitor and consultant undertakings as well as admission resolutions.
Statistics published by the SEC and FCA allow comparison of US and UK regulatory enforcement trends.
Corficolombiana paid more than $28m in bribes to high-ranking government officials to win a massive infrastructure project.
Therese Chambers sent out a clear message in her first speech in the role.