FSA fines Prudential over AIA bid

Prudential has been hit with a 30m-pound fine and the censure of its Chief Executive Tidjane Thiane for the way it handled its bid for AIA, a life insurance firm and Asian subsidiary of AIG.

Prudential has been hit with a 30m-pound fine and the censure of its Chief Executive Tidjane Thiane for the way it handled its bid for AIA, a life insurance firm and Asian subsidiary of AIG.

The Financial Services Authority (FSA) issued a penalty to the company for failing to inform the watchdog early enough about its intention to acquire AIA.

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