Update: FSA confirms £30m Pru fine over AIA deal

Prudential has been fined £30m by the City watchdog while its chief executive Tidjane Thiam has been officially censured, following the failed AIA deal in 2010.

Confirming earlier reports, the FSA said Prudential had failed to inform the FSA at the appropriate time that it was seeking to acquire AIA, the Asian subsidiary of AIG, in early 2010. The FSA said it has also censured Tidjane Thiam, Prudential's group chief executive (pictured). Tidjane Thiam and other executives failed to mention the planned bid in a meeting with the FSA just weeks before the bid was announced, the FSA said. "It failed to disclose the proposed transaction even when, at a meeting between the FSA and Prudential executives on 12 February 2010, the FSA asked detailed...