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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.