L&G granted right to FSA secret papers - papers 22nd Feb

Ben Jaffey, representing L&G, is quoted by the Telegraph as saying: "No reasonable regulator, properly directed on the evidence before it, could have reached the decision that the FSA's regulatory decisions committee did on liability or on penalty." Jaffey said L&G had not had the opportunity to respond to "secret representations" made to the committee by the FSA's enforcement department. L&G went before another hearing yesterday to argue the FSA should disclose details of how it came to its ruling against the company and how it had treated 20 other insurers whose endowment sales were...