FSA fines Pru £30m and censures CEO
The Financial Services Authority (FSA) has hit Prudential with a £30m fine and criticised CEO Tidjane Thiam.
The fines relate to Prudential's failure to inform the FSA at the appropriate time that it was seeking to acquire AIA, the Asian subsidiary of AIG, in early 2010, which at the time was led by now Aviva boss Mark Wilson.
According to the regulator, Prudential failed to cooperate in an open manner when it was planning to buy AIA and did not inform the watchdog until after the plans had been leaked to the media on 27 February 2010.
The FSA highlighted that Prudential failed to disclose the proposed
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