Conduct Risk and Financial Stability [18]

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Bullet points include: According to UK’s FCA Business Plan 2015/16, in 2014 UK’s financial industry. Contributed £126.9bn gross value added to UK economy (8% of total). Employed 1.1m people (3.4% of UK employment). 97% of adults in Great Britain own a current account. FT Article, 14 June 2015 (Jonathan Ford, “Breaking up retail and investment banks is not so hard to do”) indicates UK’s four biggest banks have racked up £34bn in fines and customer compensation over past 7 years. C.f. according to CCP Research Foundation,  largest 16 (global) conduct costs by firm (bank) total: GBP bn. Total costs 2010-14. Provisions 31 Dec 2014. Grand Total 2010-14. Grand Total 2009-2013. Grand Total 2008-2012. Top 16 globally. 160. 46. 206. 173. 158

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