Norwich & Peterborough (N&P) building society has widened its investigation into advice by branch staff to include recommendations to invest in funds from JP Morgan, Standard Life and Legal & General.
The building society has hired third party compliance firm Huntswood to review recommendations by N&P's now defunct Financial Advice Service going back at least to 2007. N&P has been brought to the verge of collapse and impending takeover after the FSA found widespread poor advice on Keydata products by N&P IFAs, which cost the building society £57m in compensation. In the FSA's final notice on the N&P Keydata scandal, the regulator said it would be looking into the suitability of advice on other products sold by N&P. Letters to N&P customers have now surfaced which give details of...
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