Royal Liver

Royal Liver fined for mis-selling

Insurer Royal Liver has been fined £550,000 (US$1m) for mis-selling with-profits policies by the Financial Services Authority (FSA).

The firm was found to have sold policies to customers who had no “demonstrable” need for them.

As a result of the mis-selling policyholders were exposed to too much investment risk, the FSA added