FSA censures The Underwriter and fines former CEO for Principles breaches

The Underwriter Insurance Company Limited was censured for breaching Principle 11 - the requirement to be open and cooperative with the regulator – last month and its former CEO, Keith Rutter, was fined £20,000 for contravening Principles 1 (act with integrity) and 4 (openness and cooperation with the FSA) of the Principles for Approved Persons.