Lloyds Banking Group has been fined £28 million for serious failings in relation to bonus schemes for sales staff.
The Financial Conduct Authority said it was the largest fine that it or the former Financial Services Authority had imposed for retail conduct failings.
The bonus scheme pressurised staff to hit sales targets or risk being demoted and have their pay cut, the FCA said.
The BBC reports the fine could have been £35 million had Lloyds not agreed to settle early.
