Good Jobs First's new Violation Tracker UK in the news:
"Almost half of all Government-decreed business violations actions are by the financial services industry – despite the sector contributing to less than 10% of the UK’s economic output, the Byline Intelligence Team can reveal.
Data from 2019 shows that the financial sector contributed to just 6.9% of the UK economy, but that the banking and finance sector was found guilty for 46% of the £9.8 billion fines handed down by Government agencies to the 10 British industries most punished for corporate misconduct over the past decade.
UK financial services have paid £4.5 billion in penalties since 2010, according to an analysis of a new database created by ‘Good Jobs First‘, which seeks to track companies’ irresponsible corporate behaviour. By comparison, fines for the next three most penalised UK industries – aerospace, telecommunications and utilities – amount to just £3.4 billion."
Read the full story here.