Blog: N&P's shoddy practices cost it £52m, but when will the FSA pay?

For people who tuned into the Keydata-N&P saga last August, the enforcement action may have come as a surprise. Then, N&P chief executive Matthew Bullock said he would find it “puzzling” if the FSA and the FSCS failed to rule investors lost money because of internal fraud at Keydata, adding indignantly: “Just because you advise somebody and the product fails doesn’t mean to say you’ve mis-sold it.” True, except when you have mis-sold it, which N&P IFAs did, a lot. While you were at the helm Mr Bullock. Instead of taking responsibility for the systematic mis-selling problems at N&P,...