Lloyds
TSB appears to make a bit of a habit for getting itself fined.
They were fined for mis-selling bonds in Sept '03. (Scottish Widows)
Lloyds TSB was yesterday handed the largest ever fine -£1.9m - levied by the financial services authority for misselling financial products and was left with a bill of at least £98m to compensate customers who were incorrectly sold high risk bonds. (Sept '03)
Abbey Life, an insurance unit of Lloyds TSB bank, has been fined a record £1m for mis-selling endowment mortgages. (December '02)
IMRO today (Jan 1999) announced that it has fined Lloyds TSB Unit Trust Managers Limited ("Lloyds TSB") £425,000.
Lloyds TSB has agreed to a settlement of disciplinary proceedings because it breached the IMRO Rules and Statements of Principle. The breaches occurred between November 1993 and November 1998.
IMRO has today (1999) announced that it has fined Lloyds TSB Bank plc £100,000 for breaches of regulatory rules in its Securities Services Division. The breaches concerned failures in the completion of customer asset reconciliations and the organisation and control of its custody
business. These problems occurred between 1 June 1997 and 31 December 1998.
Lloyds TSB were regulated by IMRO from 19th April, 1988. It appears that all IMRO members came under the FSA when that came into force (1st. Dec 2001). LTSB came under the FSA 1/12/2001.
Unfortunately I can't find what the IMRO rules and regulations were, YET!!!
Seems it's not just in this country that LTSB are facing fines,
WASHINGTON, DC - US prosecutors have charged Lloyds TSB and the Bank of Cyprus with money laundering offences. (November '07)
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