FSA fines Standard Life £2.45m for systems and controls failures

Standard Life has been fined £2.45 million by the Financial Services Authority (FSA) for systems and controls failings that caused 98,000 retail investors to be misled about a fund that lost more than £100 million in value last year.
The UK regulator says Edinburgh-based Standard Life Assurance, a Standard Life subsidiary, produced misleading marketing material that misled consumers about underlying investment risks within its Pension Sterling Fund.

The FSA says the fund lacked proper system

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: