Sesame in £31m redress provision; Friends relishes Budget 'opportunity'

Friends said it had given a "letter of support" to the Sesame group to assist in meeting potential liabilities from a past business review into pension transfers, but did not expect any costs arising from them to hurt the wider group financially. In June 2013, the Financial Conduct Authority (FCA) fined Sesame Bankhall Group £6m for failing to ensure advice given to customers, particularly on Keydata life settlement products, was suitable. "A number of business reviews are currently being undertaken in these companies and provisions of £31m have been included in respect of customer re...