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FSA bans directors over £3m deficit

The FSA has banned three directors of BPS Insure for failing to notify it of a £3m deficit in its client account. London-based BPS also used client money to pay its general expenses, further increasing the deficit.

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Windsor Life gets worse and worse. We sent in a £1,000 single premium for a personal pension in February. Not only could it not do the fund that GE Life originally had but it also turned out that it would not pay commission, which I know is something that Windsor Life is not really used to. Apparently, with the GE Life contract, it used to do a separate policy for increments and Windsor Life does not have that facility.

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