FSA 'broke law' in L&G case - papers 15 September

The offer was made in a letter to the firm regarding a proposed £1.3m – later reduced to £1.1m – fine for mis-selling. According to the statement put forward to the tribunal by L&G, the FSA offered to cut the fine if the insurer agreed not to appeal to the Tribunal. Blocking any right to access the Tribunal would go against the statute book, so “it was quite unlawful to seek to obtain the agreement in some way to the effect that the applicant should agree not to refer the matter to the tribunal,” L&G’s representative has said. L&G’s has also argued that the decision to impose a pen...