Lloyds faces biggest fines
Around 20 firms contacted
Thematic review showed most funds correctly marketed
FCA was formed three years ago
Researchers' altruism is constantly tested
Follows departure of Wheatley last year
Non-exec role at annuity specialist
Difficult risk assessments
"I am not worried about the tax, it is not like it was my money in the first place. I will pay the tax and then buy a flat in Tenerife, which will keep me going for my retirement".