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Former Keydata chief executive faces £75m fine

Three men are facing fines of nearly £80m from the City regulator for misleading investors into buying so-called "death bonds", linked to life insurance policies.

One of them - Stewart Ford - has been given a fine of £75m, the largest such penalty ever imposed on an individual.

The Financial Conduct Authority (FCA) said the way the bonds were sold - by a company called Keydata - was "unclear, incorrect and misleading".

Mr Ford has pledged to fight the ruling in the High Court, and said he would file a claim for damages.

BBC's Simon Gompertz reports.

  • 26 May 2015