The UK Financial Services Authority on Tuesday said it fined Samuel Kahn more than £1m for share trading abuses at brands-licensing firm Global Brands Licensing, the second-highest fine so far against an individual, marking a hardening in the regulator's stance toward rooting out and punishing financial crime.

Between March and April last year, the FSA said that Kahn, a resident in Salford in Manchester, gained £210,563 after his control of majority of share trading led to the increase of GBL's share price from just 2 pence to 5.25 pence at its height on April 20 last year.