Reference Case Number: FOI10070
Freedom of Information: Right to know request:
In December 2017, you fined Bluefin Insurance £4.2M. I would like to know:
1. The first date Bluefin knew it was being investigated by the FCA for any practices, even if not those set out in the Final Notice.
2. The first date that Bluefin was made aware that they were to be subject to any regulatory sanction.
3. The first date that Bluefin was made aware that they would be fined.
4. When they knew the amount of the fine.
FCA response:
In response to question 1, the Notice of Appointment of Investigators was issued to Bluefin Insurance Services Limited (Bluefin) on 24 July 2014.
In response to questions 2 to 4, the relevant settlement agreement between the FCA and Bluefin was signed on 28 November 2017. This settlement agreement confirmed that Bluefin would be subject to regulatory sanction, that the regulatory sanctions included a fine and confirmed the specific amount of the fine.