UK Bans 5 Ex-Execs For Insurance Misconduct

Law360, New York (August 17, 2010, 1:58 PM EDT) -- The U.K.'s financial services watchdog has banned five individuals for insurance fraud and handed out one of the largest fines ever imposed against an individual for insurance industry-related misconduct.

The U.K.'s Financial Services Authority announced Tuesday it had fined the former director of Jeffery Flanders (Consulting) Ltd. £150,000 ($233,700) and four former executives at Orion Direct Ltd. and Peppercom a total of £50,000.

Andrew Jeffery, director of Jeffery Flanders, received the £150,000 penalty, one of the agency's largest fines issued to an individual after an insurance...
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