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Lloyds TSB response to FSA

In response to the £1.9m fine Lloyds TSB group has issued a statement saying it has taken measures to tackle the problem.

It added: &#34We recognise that while the product (Extra Income Growth Plan) was appropriate for some investors it did not provide staff with sufficiently in depth training on how much of a customer&#39s available funds should be invested in this particular product.&#34

It estimates the overall compensation package will cost £98m.

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