LLOYDS Banking Group has been fined a record £28 million over incentive schemes that rewarded staff with "champagne bonuses" and put advisers under pressure to hit sales targets or face demotion. The Financial Conduct Authority (FCA) said it was the highest penalty ever imposed against a UK retail banking operation and came after it uncovered "serious failings" in bonus schemes within Lloyds TSB, Halifax and Bank of Scotland (BoS) that saw frontline staff pick up windfalls even when the products were mis-sold to customers. The investigation focused on sales of investment products, such as stocks and shares, individual savings accounts (Isas), and insurance protection products, including critical illness and income protection cover between January 2010 and March 2012.