FSA to fine N&P and order past business review - reports

The building society will also be forced to undergo a review of all past business in the New Year because of advice failings, according to a source close to the situation. Such action by the regulator would fuel speculation that N&P, which has 500,000 members, may not survive as an independent building society, reports the Daily Mail. N&P confirmed last week it had received "a number" of approaches from other financial organisations. Its board has consistently maintained the society is financially strong enough to weather the Lifemark crisis. The bonds were sold during 2006 and ...