Axa Sun Life

Record fine for Axa’s unclear ads

Insurer Axa Sun Life has been fined £500,000 for its misleading TV adverts – the highest such fine ever imposed by the City watchdog.

The Financial Services Authority (FSA) said adverts for Axa Cash Builder Plus and its guaranteed over-50 investment plans did not alert consumers to risk.

The FSA said the “design, content and format” of the adverts focused attention on benefits rather than risk