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Violation Tracker UK Individual Case

Company: Sun Life Assurance Company of Canada (UK) Limited
Current Parent CompanySun Life Financial
Parent at the Time of the Penalty Announcement: Sun Life Financial
Penalty: £600,000
Year: 2012
Date: 18 October, 2012
Offence Group: financial offences
Offence Type: investor protection violation
Violation Description: Sun Life paid a £600,000 fine in settlement of a finding by the FSA that the company failed to have adequate governance arrangements for protection of policyholders' interests, after two significant transactions occurred without sufficient review.
Action Type: agency action
Settlement Type: settlement of FSA Decision
Agency: Financial Services Authority
HQ Country of Parent: Canada
Ownership Structure of Parent: publicly traded
Major Industry of Parent: financial services
Specific Industry of Parent: life insurance
Source of Data(click here)