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L&G claims partial victory

Legal & General has claimed a partial victory from the Financial Services and Markets Tribunal as it ruled that there should be a reduction in the fine imposed on the company by the FSA for mis-selling to its customers.

The tribunal found that there had not been widespread mis-selling, although Legal & General had committed rule breaches that will have caused or contributed to mis-sales. The FSA had proved eight cases of missales, out of an alleged 60, which in the tribunals view was limited.

Legal & General group chief executive David Prosser says: “We are pleased that the case has now been heard by an independent body. The tribunal has agreed with us that the RDCreached conclusions not justified by the material before it”.


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Our client is a leading video game and publishing company best known for its console role-playing game franchises. The client provides a number of benefits, at varying levels and cost that attract a P11d liability. With the absence of a management log to track data for benefit movements, enormous administrative and therefore cost implications were occurring each year just to comply with P11d reporting requirements.


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