Pru shares slump following £30m FSA fine

Shares in Prudential have fallen over 4% today after the FSA fined the insurer £30m over the failed AIA deal in 2010.

The FSA said Prudential had failed to inform it at the appropriate time that it was seeking to acquire AIA, the Asian subsidiary of AIG, in early 2010. Handing out the fine, the regulator also censured Tidjane Thiam, Prudential's group chief executive (pictured). The group's shares were down 4.3% at £10.50 as a result in afternoon trading, with the insurer leading the FTSE 100 fallers list after the news was confirmed. The wider index was down just 0.7%. Fellow blue chip insurer Aviva was also down over 2% to 296p after UBS reduced its price target from 450p to 440p following this ...