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£250m paid in FSAVC compensation

Nearly 85,000 policyholders have received £250m in misselling compensation as the FSAVC review is wound down by the FSA.

The review was set up in 2000 and 100,000 policyholders have had their cases investigated, with 85 per cent receiving some form of compensation.

Around 10 per cent of all FSAVC sales have been looked at as part of the review, which is due to be completed as scheduled.

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