LONDON (dpa-AFX) - The Financial Conduct Authority (FCA) has fined Standard Life Assurance Limited 30.79 million pounds for failures related to non-advised pension sales. Standard Life Assurance Limited was formerly part of the Standard Life Aberdeen group of companies. In 2018, it was sold by Standard Life Aberdeen to the Phoenix group of companies.
In 2017, SLAL agreed to conduct a past business review to identify the customers who were likely to have suffered as a result of its failures. As at 31 May 2019, SLAL had paid approximately 25.3 million pounds to 15,302 customers.
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