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Brener joins Abbey as compliance director

Former PIA regulator Alan Brener has joined Abbey as its new compliance director.

Brener, who moved to Abbey last week from Royal Bank of Scotland, came in for criticism from the FSA’s appeals tribunal for the quality of his evidence during its review of the handling of Legal & General’s endowment misselling case last year.

He was head of field monitoring at the PIA when it conducted supervisory visits at L&G 10 years ago. During the financial services and markets tribunal review of the FSA’s handling of the case, Brener was criticised for the poor standard of his evidence.

The tribunal said: “Mr Bre-ner gave evidence about this exercise but provided us with little assistance. Unlike other witnesses, he had apparently not studied the material before giving evidence and seemed unable to reconstruct his recollection when taken to the available documents.”

The tribunal found serious defects in the FSA’s handling of the case and halved the £1.1m fine originally imposed.

Abbey was fined £800,000 by the FSA last year for mis- handling mortgage endowment complaints and mis- leading the regulator over its complaint-handling process.

Spokeswoman Jane Reynolds says: “This relates to a case that happened 10 years ago. We have no further comment.”

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