Banks were ordered to pay out more than £160million in compensation to customers last year after a crackdown by the financial regulator. Compensation was nearly treble the £62million shelled out in 2010, while penalties hit £66million, the second-highest total in the Financial Services Authority's history - behind 2010’s £89million. Barclays was the worst offender, according to research by law firm Freshfields reported in the Financial Times. The bank was ordered to pay out £59million to retail customers and was fined £7.7million for failings in the way it sold funds labelled 'cautious' and 'balanced'....Read more here--: Barclays worst offender as banks ordered to pay out £160m in compensation to customers | This is Money