Prudential has been hit with a £30 million fine for breaching financial regulations. The Financial Services Authority says the company failed to inform them "at the earliest opportunity" that it wanted to acquire AIA, the Asian subsidiary of AIG, in 2010.
Prudential was accused of failing to deal with the FSA in an "open and cooperative manner". The financial services company only told the FSA about its plans after they were leaked to the media.
The Queen suggested today that the City regulator, the FSA, had been too lax and toothless in the run up to the financial crisis in 2008.
Prince Philip, who accompanied the Queen to the Bank of England, warned bankers not to let the crisis happen again.
Brendon Sewill, chairman of the Gatwick Area Conservation Campaign, said: 'We have always been totally opposed to a new runway on environmental grounds, and have had massive support from across Surrey, Sussex and west Kent.
"We have been supported by all the local MPs and all the county, district and parish councils in a wide area. If necessary, we will resume the battle."
Gatwick bosses are beginning detailed work on the option for a new runway at the airport. But the plans will honour a 1979 legal agreement that no runway can be built before 2019.
The options will be submitted to the Government-appointed aviation commission led by former Financial Services Authority (FSA) chief Sir Howard Davies boss which will make its full report in summer 2015.
Gatwick chief executive Stewart Wingate said a new runway at Gatwick "could be affordable and practical" and was a better option than new runways at Heathrow or Stansted airports. For more on this story visit the ITV News Meridian website.