Lg Challenges Endowment Fine

Summary


LEGAL and General will today begin an appeal against a Pounds 1.1m fine from the Financial Services Authority. The life insurer, led by David Prosser, will claim that it did not mis-sell endowment mortgages to customers in the 1990s.

Other insurers including Royal SunAlliance and Scottish Amicable have agreed to pay substantial fines for endowment mis-selling.

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Extract


Lg Challenges Endowment Fine

But LG is about to become the first major firm to chal...

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