RPT-UPDATE 1-Clydesdale fined record $30 mln for mis-selling failures

April 14, 2015 10:15 PM

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LONDON, April 14 (Reuters) - Britain's financial regulator has fined Clydesdale Bank a record 20.7 million pounds ($30.3 million) for failings in how it handled insurance mis-selling claims, including providing false information to Britain's financial ombudsman.

The fine is the biggest ever handed out by the Financial Conduct Authority in relation to the payment protection insurance (PPI) scandal, for which banks in Britain have set aside more than 24 billion pounds to compensate customers.

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