Penalties for financial wrong­doing would be tripled and fines for insider dealing and other market abuse set at a minimum of £100,000, under proposals by the City regulator that underline its tougher approach to enforcement.

The Financial Services Authority on Monday proposed that a company could be fined up to 20 per cent of its income from the product or business line related to the regulatory action. Individuals could lose up to 40 per cent of their pre-tax income, including bonuses, from a job related to non-market abuse cases.