Prudential has been forced to pick up a £750,000 fine from the FSA for mortgage endowment mis-sellin...
Prudential has been forced to pick up a £750,000 fine from the FSA for mortgage endowment mis-selling at its Scottish Amicable division, as well as the discovery of other faults with the ScotAm sales system between January and December 2000. Scottish Amicable ended up having to employ an independent accountants firm to review a sample of endowment cases after a visit by the FSA in January 2001 discovered clients were missold because they were not sufficiently prepared by sales teams to take the risk should the endowment not meet mortgage repayments at the end of the term. Around £...
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