Foresters fined for misleading promotions

The FSA has levied a £55,000 fine on the Ancient Order of Foresters for financial promotion failings...

The FSA has levied a £55,000 fine on the Ancient Order of Foresters for financial promotion failings, the first time a friendly society has faced such a reprimand. Focusing on television advertisements and direct offer packs targeting elderly consumers, the regulator imposed the ban as Foresters failed to promote financial products in a way that was clear, fair and not misleading. It said Foresters neglected to ensure promotion of two of its products, Autumn Gold and the TeddyTrust child trust fund, contained a fair and adequate description of the risks and drawbacks. The FSA was also co...