On December 11, the FCA published a final notice to Lloyds Banking Group in which it was fined a record GBP £28 million.  The fine was imposed for “serious failings” in its sales practices, the largest UK regulatory penalty for a retail banking misdemeanor. The FCA was particularly critical of “seriously flawed” sales practices and bonus structures in place between January 2010 and March 2012 that involved sales people being potentially demoted, with a potential cut in salary of up to 50 percent, if they failed to hit targets.  Final Notice.