Friends Provident said it has "now had the opportunity to examine Resolution's business model and structure through engagement with Resolution and through discussion with, among others, the FSA and major shareholders of both companies".
In November, Friends Provident announced that it was scrapping its direct sales force, affecting 500 jobs.
Provident Financial said it had not received one of the warning letters and a spokesman also defended its practices, saying: "The price of any lending needs to be quoted as an annual percentage rate by law.
The company, formed two years ago by the merger of the UNUM Corporation and the Provident Companies, said it earned $182.0 million, or 75 cents a share, compared with $134.5 million, or 56 cents a share a year earlier.
Rates in the legitimate doorstep lending industry tend to be higher, but one of the leading lending companies - Provident - said it welcomed the pilot project.
The Malaysian consortium behind the project - comprising of S P Setia, Sime Darby and the Employees Provident Fund, estimates it will take 10 years to complete the project.
Combined with the banks' reluctance to lend to anyone not classified as a "prime" credit risk, it leaves many poorer people with few options other than Provident, with its huge interest rates, or even less palatable choices such as loan sharks.
In 1999, Brighton & Hove Council awarded the group a grant which enabled it to register as an industrial and provident society, noting that it was providing a significant community benefit by "providing a process for disparate communities of interest to develop their views and become involved in the planning and decision-making process".
Cormorant Ventures collects its $10 million, Provident Capital takes its $1.5 million and BlackBox Capital receives its $3.5 million.
Sarin received £500,000 to cover the costs of moving back to the US, while it cost Friends Provident £370,000 to move its new chief executive from Edinburgh to Dorking in Surrey.
