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Comments
A whipping boy?
Yes, it was a mess and Standard probably deserved the fine. BUT they did make great efforts to set things right and to compensate clients. As ever justice must not only be done. But be SEEN to be done. So what about the real bad boys? Windsor Life, NPI, Resolution etc? Why do they continue to get off scot free for the appalling treatment of clients? Does it have anything to do with an ex regulator being on the board? Answers on a postcard please.
Posted by: Harry Katz
£2.45m
I trust all the fine monies went towards enhancing the fund in addition to the capital injection by Standard. Or did the FSA take a slice?
Posted by: Peter Meadway
Try Zurich
In my opinion the FSA knocked on the wrong door. The biggest scandal has been Zurich's Money Securities Fund. Their fund description was a little weak to say the least.
Posted by: N P
Fines and Bonuses
This makes little sense. Standard c*cked up, granted, but they rectified things fairly quickly (certainly TCF), and yet the FSA STILL fine them?!? I suppose the FSA bonus pool needs to come from somewhere!
Posted by: You must be joking