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The preference shares were trading above their par value and so the statement caused concern that holders would incur losses on cancellation.
The Financial Conduct Authority (FCA) has publicly censured Aviva for what it described as making an announcement that had the potential to mislead the market.
Following an investigation the FCA found that a market announcement made by Aviva on 8 March 2018 concerning the firm's preliminary year-end results was reasonably capable of giving the impression that...
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