(1) So the coalition inherited a market with too few competitors, a confusing plethora of tariffs and consumer trust damaged by doorstep misselling.
(2) The regulator is keen to avoid a re-run of the payment protection insurance misselling scandal which, while on a much larger scale, was delayed for years while the banks argued with the FSA in the courts.
(3) RBS has also set aside £3.2bn for misselling customers payment protection insurance.
(4) 3.30pm BST Myners cited the Co-op's PPI misselling compensation as another sign that it wasn't being run properly.
(5) Consumers will also be given the right for the first time to take "class action" suits – common in the US – through the courts in cases of large-scale wrongdoing such as endowment misselling or personal pensions.
(6) From the start of this year, the bank has changed the way it pays the staff in its retail division to remove the link between sales and bonuses, with a view to cutting misselling bills.
(7) If the man from the Pru did that I would take him to court and sue him for pension misselling.
(8) Ofgem is also investigating Scottish Power, Scottish and Southern Energy, EDF Energy and npower for misselling and is carrying out two investigations into Scottish Power for potentially misleading marketing and the difference between its standard credit and direct debit tariffs.
(9) Friday's announcement by the FSA about interest rate swap misselling follows a two-month review during which 100 customers came forward to complain about their treatment by the banks, which sold 28,000 of these products intended to help protect against interest rate movements during a 10-year period.
(10) In its latest update, it has set aside £295m for compensation for missold loans, including £33m to cover claims for payment protection insurance misselling.
(11) Over the five years to 2015, Barclays, HSBC and the bailed-out Lloyds Banking Group and Royal Bank of Scotland have together incurred costs of £55.8bn to cover so-called conduct and litigation issues, after being penalised for rigging Libor and foreign exchange markets, and having to compensate customers for misselling payment protection insurance .
(12) The Financial Conduct Authority (FCA) stunned the industry on Tuesday by proposing a deadline of June 2019, rather than the spring 2018 cutoff it had suggested in October in a move intended to draw a line under the costliest ever misselling scandal.
(13) The bank – one of the highest dividend payers in the FTSE 100 – said that the government's bank levy on its balance sheet had cut its dividend by $0.05 per share as it had cost $904m last year, while it had set aside another $395m for misselling payment protection insurance and products to small businesses.
(14) In other news, Barclays has set aside another £1bn to cover the cost of misselling products to its customers.
(15) The Australian bank issued a profits warning in October because of the mounting cost of provisions for compensation over PPI and the misselling of interest-rate swaps - complex financial products designed to protect buyers against sharp movements in interest rates.
(16) The fine is a joint record for a retail-related offence, on a par with the one slapped on HSBC last December for misselling investments to eldery customers.
(17) Echoing the remarks of regulators, Walker said that "in principle" he agreed that customers should pay as it might prevent misselling of financial products.
(18) These included possible further provisions for payment protection insurance mis-selling, misselling interest swaps to small businesses and the sale of mortgage bonds in the run-up to the financial crisis.
(19) He also wondered whether the extra £465m provision for misselling payment protection insurance - included in RBS's £3bn figure - could have an impact on Lloyds Banking Group, which has already incurred an £8bn bill for the scandal.
(20) But I guess it'll be less hassle than cleaning up Fred Goodwin's mess, being lambasted by the media over the Libor scandal and PPI misselling, and apologising for RBS's tech problems.
Torpedo
Definition:
(n.) Any one of numerous species of elasmobranch fishes belonging to Torpedo and allied genera. They are related to the rays, but have the power of giving electrical shocks. Called also crampfish, and numbfish. See Electrical fish, under Electrical.
(n.) An engine or machine for destroying ships by blowing them up.
(n.) A quantity of explosives anchored in a channel, beneath the water, or set adrift in a current, and so arranged that they will be exploded when touched by a vessel, or when an electric circuit is closed by an operator on shore.
(n.) A kind of small submarine boat carrying an explosive charge, and projected from a ship against another ship at a distance, or made self-propelling, and otherwise automatic in its action against a distant ship.
(n.) A kind of shell or cartridge buried in earth, to be exploded by electricity or by stepping on it.
(n.) A kind of detonating cartridge or shell placed on a rail, and exploded when crushed under the locomotive wheels, -- used as an alarm signal.
(n.) An explosive cartridge or shell lowered or dropped into a bored oil well, and there exploded, to clear the well of obstructions or to open communication with a source of supply of oil.
(n.) A kind of firework in the form of a small ball, or pellet, which explodes when thrown upon a hard object.
(v. t.) to destroy by, or subject to the action of, a torpedo.
Example Sentences:
(1) The ATP content of the cholinergic electromotor nerves of Torpedo marmorata has been measured.
(2) The mRNA produced in vitro was injected into Xenopus oocytes with the mRNA encoding the Na+,K+-ATPase beta subunit of Torpedo electroplax.
(3) • Democratic senators were angry at what they saw as a House attempt to "torpedo" – Harry Reid's word – what they saw as a perfectly viable, bipartisan Senate agreement.
(4) Comparison of the binding of AD and control IgG to Torpedo cholinergic NF-H revealed that AD IgG bind to this neurofilament protein more than control IgG.
(5) In contrast with the membrane fragments of Electrophorus, however, those of Torpedo give dose-response curves of in vitro excitation that shift towards higher concentration of the agonists by one to two orders of magnitude compared with the actual binding curves of agonists to the receptor sites.
(6) Two-phase systems consisting of water, dextran and poly(ethylene glycol) have been used for partition of membranes obtained from Torpedo marmorata electric organ.
(7) Chemiluminescent detection was applied to measure the continuous spontaneous Ca2+-independent liberation of acetylcholine (ACh) from Torpedo electric organ synaptosomes.
(8) Such extravagant claims will be familiar to the scheme's architect, Richard Rogers, whose designs for the office development beside St Paul's Cathedral in the 1980s were torpedoed when Charles implied in a public speech that the plans were more offensive than the rubble left by the Luftwaffe during the blitz.
(9) The affinities of 125I-alpha-bungarotoxin for the calf and human peptides were 15- and 150-fold less, respectively, than for the Torpedo peptide.
(10) At pH 7.4, the apparent Kd for a dodecameric peptide (alpha 185-196), consisting of residues 185-196 in the alpha-subunit of the nAChR from Torpedo californica, was 1.4 microM.
(11) Acetylcholine (AcCho) release from purely cholinergic Torpedo synaptosomes was evoked by K+ depolarization in the presence of Ca2+.
(12) The cellular and subcellular distribution of 5'-nucleotidase in tissues of the electric ray Torpedo marmorata has been investigated by means of an antiserum raised against the native enzyme purified from the electric organ.
(13) Crotoxin also blocks the increase of 22Na+ efflux caused by carbamylcholine from excitable microsacs prepared from Torpedo marmorata electric organ.
(14) N,N-dimethylanatoxin (DMAnTX), the quaternary derivative of the potent nicotinic agonist (+)-anatoxin-a (AnTX), has been evaluated for potency and efficacy at nicotinic acetylcholine receptors of frog motor endplates and Torpedo electric organs.
(15) Torpedo dystrophin was also crosslinked at the same concentrations as were effective for the 43-kD protein and gamma subunit.
(16) Assembly of nicotinic acetylcholine receptor (AChR) subunits was investigated using mouse fibroblast cell lines stably expressing either Torpedo (All-11) or mouse (AM-4) alpha, beta, gamma, and delta AChR subunits.
(17) In optimal conditions of reduction but with the minimal concentration of BAC that permitted 100% alkylation of the human AChR's alpha-bungarotoxin sites, only 74% of the Torpedo AChR's binding sites were alkylated.
(18) Amino acid sequence data comparisons suggest that D2 encodes a serine esterase with strong sequence identity to Torpedo acetylcholine esterase and a Drosophila esterase.
(19) We investigated the enzymatic properties of phosphatidylinositol-specific phospholipase C (PI-PLC) from Bacillus cereus towards glycosyl-phosphatidylinositol anchored acetylcholinesterase (AChE) from bovine erythrocytes and Torpedo electric organ as substrate.
(20) Some regions of the delta subunit molecule, including the region containing the putative disulphide bridge and that encompassing the clustered putative transmembrane segments M1, M2 and M3, are relatively well conserved between calf and Torpedo.