Axa Sun Life pays £500,000 for misleading advertisements

Excessive focus on the benefits of the Bonus Cash Builder Plus Plan (BCP) and the Guaranteed Over 50 Plan (GO50) and insufficient emphasis on the attendant product risks, coupled with internal systems and controls weaknesses in financial promotions approval, have cost Axa Sun Life a £500,000 penalty. The advertisements formed part of a broad campaign that extended across direct offer promotions, national magazines and newspapers and television from February 2002 to January 2004. As a result, large numbers of consumers were at risk that they might be misled.