FSA stresses tribunal findings of L&G mis-selling

A statement issued yesterday following publication of the Financial Services and Markets Tribunal report - into the row between L&G and the FSA – says the tribunal upholds the case that L&G’s sales procedures were defective and finds “these procedural defects were have caused or contributed to mis-sales”. The FSA continued by pointing out oral evidence from 13 L&G customers and revealed at least in these specific cases, eight policies had been mis-sold and of this small collection of cases, “this represented potential mis-sales of 62% in this group of customers”. Before the tribunal c...