Bradford & Bingley fined for mis-selling


The UK’s Financial Services Authority (FSA) last month fined Bradford & Bingley (BBG) £650,000 for the widespread mis-selling of precipice and with-profit bonds. BBG has also agreed to pay £6 million in compensation to the 6,800 customers affected. “The firm did not make suitable recommendations to customers, did not maintain adequate records of sales, and did not have in place adequate systems and controls to prevent and ultimately address these failures,” the FSA said in a statement.

The mis

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