UK Watchdog Fines Insurance Cos. £2M For Changing Files

Law360, New York (January 18, 2012, 3:44 PM EST) -- The U.K.’s Financial Services Authority on Wednesday fined two insurance companies nearly £2.2 million ($3.3 million), to be paid by a Royal Bank of Scotland Group PLC subsidiary, for failing to prevent the alteration of a number of customer complaint files the agency had requested for review.

Of 50 complaint files the FSA had requested from Direct Line Insurance PLC and Churchill Insurance Co. Ltd., 27 had been improperly altered before the companies submitted them because of their failure to act with due diligence, the agency...
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