Norwich and Peterborough

The FSA has fined N&P £1.4m for giving unsuitable advice on Keydata products, on top of the £51m it must pay out in compensation.

Troubled building society Norwich and Peterborough (N&P) has agreed the terms of a proposed merger with Yorkshire Building Society.

Anne Gunther, the former Standard Life Bank chief executive, will take over as head of troubled building society Norwich & Peterbourgh (N&P).

So how did N&P's advisers take the company from a safe-as-houses building society to the centre of one of the biggest mis-selling scandals of the decade?

The FSA has fined Norwich & Peterborough (N&P) £1.4m for giving unsuitable advice on Keydata products, and the building society will have to payout approximately £51m in redress to customers.

Norwich & Peterborough (N&P) has pledged to "pursue the value" in Lifemark bonds when it swaps compensation for investors' rights and becomes one of the largest individual investors in the fund.

Norwich & Peterborough (N&P) has had its financial strength rating downgraded by Moody's, a week after the building society revealed it faces a £57m Keydata compensation bill.

Norwich & Peterborough (N&P) building society has set aside a massive £57m to cover the cost of compensating customers its IFAs invested in failed investment firm Keydata.

AIFA is calling on the FSCS to consult with the industry on exactly how it will rebate levypayers with money repaid to it by Norwich & Peterborough (N&P).

Norwich & Peterborough (N&P) has agreed to pay compensation directly to all customers it sold Keydata products totalling £57m, exceeding the building society's previous outside estimates for the bill.