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The Financial Conduct Authority has said that seven million customers who bought or renewed CPP policies over a period of six years are entitled to their money back plus 8 per cent interest, a decision which could cost the companies involved รยฃ1.3bn, if all of them put in a claim. But Mr Ogston rubbished the figure, arguing that no compensation scheme attracts a 100 per cent take up. The entrepreneur, who owns a multi-million-pound house near Harrods in Knightsbridge, London, was awarded a CBE in 2011 for รขยยservices to businessรขยย. He stood down from the CPP board in June, but owns 57 per cent of the firm, which he launched in 1980.