Midland Bank has been fined £150,000 sterling in connection with personal pensions mis-selling, it was announced yesterday.

Midland is the latest big name to be hit with a six-figure fine in the wake of the scandal, which may have affected a total of two million people or more.

The fine was announced today by investment watchdog IMRO, and the bank yesterday issued an apology for wrongly advising some of its customers to leave their company pension scheme and take out a personal pension.