TITLE

Legal & General challenges FSA's enforcement formula

AUTHOR(S)
Begum, Husnara
PUB. DATE
January 2005
SOURCE
Lawyer;1/24/2005, Vol. 19 Issue 3, p84
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports that Legal & General (L&G) is considering whether to press the Financial Services and Markets Tribunal to force the Financial Services Authority (FSA) to overhaul its enforcement procedures. The FSA was last week criticised by the tribunal over its handling of the misspelling case against L&G in its judgment of the landmark case. The tribunal, an independent body that hears appeals against FSA decisions, cleared L&G of wide mis-selling although it did uphold its finding that L&G had deficiencies in its procedures in selling endowments between 1997 and 1999, and said the FSA had erred in its approach to the mis-selling case and reached conclusions not justified by the material put before it.
ACCESSION #
15954165

 

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