The FSA has fined third-party administration firm Liberata Financial Services £525,000 for failures i...
The FSA has fined third-party administration firm Liberata Financial Services £525,000 for failures in its systems and controls for issuing documents to life and pensions policyholders. The regulator said the failures were leading to a risk the firm’s 1.3 million policyholders would not receive important financial information relating to their investment decisions and might subsequently lose money. Liberata failed to get information to 30,000 policyholders and 161 customers suffered financial losses amounting to £17,584, the watchdog claimed. FSA enforcement director Margaret Cole adde...
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