Bank of Ireland company fined

A BRITISH subsidiary of the Bank of Ireland has been fined €235,000 for approving and issuing misleading direct offer promotions.

The fine, imposed by Britain's Financial Services Authority, was handed out after a promotional guide was circulated with more than two million copies of national newspapers and was directly mailed to 236,000 prospective customers.

The guide by Chase de Vere financial advisers entitled Your Guide to Investment Recovery promoted four separate products: a British Growth Cocktail Fund, a Corporate Bond Cocktail Fund, an Enhanced Income Plan and an Enhanced Growth Plan.