Wednesday, 11 December 2013

£100m set aside by Lloyds

There's a rumour that Lloyds has set aside £100m to cover conduct issues, including the compensation payments due to customers as a result of today's record fine for unacceptable sales incentives.

What's definitely true is that it is sales to 692,000 customers to check whether or not they lost out, or if they were sold an insurance or investment product they didn't need.

Within that number 11,000 cases are being prioritised. These are the ones where the behaviour of the advisers was most questionable.

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