In a final notice issued on 15 March 2013, the FSA imposed a fine of £2,428,300 (Stage 1: 30% discount) on the oil and gasfocused specialist engineering group, Lamprell, for significant failings in its systems and controls and for failing to update the market adequately on its deteriorating financial position in early 2012. The penalty is unique because it is the first of its kind imposed under a new enforcement policy where the amount of the penalty is linked to Lamprell’s market capitalization (rather than, for example, revenue generated by a particular product line or business area). The FSA has stated that the new system is expected to lead to significantly higher penalties in the future against listed companies for these types of rule breaches.