N&P chairman claims ignorance of Keydata report

N&P, which was this month fined £1.4m by the FSA and forced to pay redress of £51m for unsuitable advice on Keydata products, carried out an internal compliance review of Keydata recommendations in June 2007. The probe raised concerns about Keydata advice, but an FSA investigation found N&P failed to act on the report, exposing customers to unsuitable advice for three more years.  Last night, at N&P's AGM, chairman Gordon Horsfield told members he had no knowledge of the contents of the report when it was issued in 2007. When directly asked if he had seen the report, members presen...