Lloyds to be fined £100m for mishandling PPI payouts

Financial Conduct Authority will hand out record penalty as government prepares to offer private investors shares in the bailed-out bankLloyds Banking Group is braced for a record £100m fine for mishandling compensation payouts for missold payment protection insurance.The penalty comes as the government prepares to offer private investors shares in the bailed-out bank and after its boss António Horta-Osório received a £11.5m pay deal in 2014. Related: PPI compensation: