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Violation Tracker UK Individual Case

Company: Standard Life Assurance Limited
Current Parent CompanyPhoenix Group Holdings PLC
Parent at the Time of the Penalty Announcement: Standard Life
Recap of Ownership Changes: Standard Life Merged with Aberdeen Asset Management in 2017, becoming Standard Life Aberdeen (later renamed Abrdn). Phoenix Group acquired the Standard Life business from Standard Life Aberdeen in 2018.
Penalty: £2,450,000
Year: 2010
Date: 20 January, 2010
Offence Group: financial offences
Offence Type: investor protection violation
Violation Description: Standard Life paid a £2.45 million fine in settlement of a finding by the FSA that the company used misleading marketing material in its sales of a Pension Fund.
Action Type: agency action
Settlement Type: settlement of FSA Decision
Agency: Financial Services Authority
HQ Country of Parent: United Kingdom
Ownership Structure of Parent: publicly traded
Major Industry of Parent: financial services
Specific Industry of Parent: insurance and retirement services
Source of Data(click here)