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Violation Tracker UK Individual Case
Company: Sesame Limited
Current Parent Company:
Aviva PLC
Parent at the Time of the Penalty Announcement: Friends Life Group
Recap of Ownership Changes: Resolution Limited changed its name to Friends Life Group in 2014 and was acquired by Aviva in 2015.
Penalty: £1,598,000
Year: 2014
Date: 29 October, 2014
Offence Group: financial offences
Offence Type: investor protection violation
Violation Description: Sesame paid a £1.6 million fine in settlement of a finding by the FCA that the company failed to avoid a conflict of interest in its financial advice to customers, setting up a pay to play system of only offering products from selected providers as a way to evade the ban of commission payments.
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: insurance
Source of Data:
(click here)
