Lloyds Banking Group firms hit with £28m FCA fine
The Financial Conduct Authority has fined Lloyds TSB Bank and Bank of Scotland, both part of Lloyds Banking Group more than £28m for serious sales incentive failings including protection products.
The fine, totalling £28 038 844, is the largest fine imposed by the FCA, or its predecessor the Financial Services Authority, for retail conduct failings.
The FCA’s investigation focused on advised
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