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Regulators

FRC reports record financial sanctions of £46.5m in past year

The FRC stated that non-financial sanctions are becoming “increasingly sophisticated” with a focus on tackling the underlying causes of failure in order to reduce the risk of recurrence.

The Financial Reporting Council (FRC) has announced its annual enforcement review which revealed it resolved a record number of cases in the last year and also imposed record financial sanctions of £46.5m.

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