......fined over Keydata policies
Originally posted by 5corpio
Norwich and Peterborough building society has been fined £1.4m for mis-selling investments to 3,200 customers.

The Financial Services Authority (FSA), which imposed the fine, said the society had failed to give them suitable advice.

The building society sold high-risk policies providedby the now insolvent Keydata investment firm, which the FSA says were inappropriate.

N&P apologised for the "hardship and anxiety" suffered by its customers.
The society has already agreed to make compensation payments totalling £51m.
"N&P failed in its basic duty to provide suitable advice to its customers, despite an internal compliance report pointing out that there were problems as early as.....Read more HERE