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Violation Tracker UK Individual Case

Company: The Prudential Assurance Company Limited
Current Parent Company: M&G PLC
Parent at the Time of the Penalty Announcement: Prudential plc
Recap of Ownership Changes: Prudential changed holding company and name to M&G Prudential in 2018, and in 2019 split into Prudential plc and M&G plc, with Prudential Assurance Co. a subsidiary of M&G.
Penalty: £16,000,000
Year: 2013
Date: 27 March, 2013
Offence Group: financial offences
Offence Type: investor protection violation
Violation Description: Prudential was fined £16 million following a finding by the FSA that the company failed to deal with the Authority in an open and cooperative manner, by failing to inform it of acquisition plans involving major regulated companies.
Action Type: agency action
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: asset management
Source of Data: (click here)