Memory of L&G endowment clients questioned - papers 13th Oct

In the latest round of the legal battle between the FSA and L&G over a £1m fine for alleged endowment mis-selling, memory expert David Shanks of University College London argued on behalf of L&G the chances of most of the insurer’s customers – within in a key sample - remembering events accurately and without distortion was “very low indeed”. Professor Shanks told the FSA tribunal there was little likelihood of customers accurately remembering sales interviews that took place three to five years earlier, and are more likely to have introduced unintentional biases. His criticism of the...