Prudential hit with fine for 'failing to be cooperative'

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.

Offices of financial services company Prudential in central London Credit: Press Association

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.