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Violation Tracker UK Individual Case

Company: Lloyds Bank plc and Bank of Scotland plc
Current Parent CompanyLloyds Banking Group
Parent at the Time of the Penalty Announcement: Lloyds Banking Group
Penalty: £28,038,800
Year: 2013
Date: 10 December, 2013
Offence Group: financial offences
Offence Type: investor protection violation
Violation Description: Lloyds Bank and Bank of Scotland paid £28 million in settlement of a finding by the FCA that the companies failed to control incentives to sales staff, resulting in unsuitable savings, insurance and investment products being sold to customers.
Action Type: agency action
Settlement Type: settlement of FCA Decision
Agency: Financial Conduct Authority
HQ Country of Parent: United Kingdom
Ownership Structure of Parent: publicly traded
Major Industry of Parent: financial services
Specific Industry of Parent: banking
Source of Data(click here)