The FSA fines Blackburn insurance broker Aspray

The Financial Services Authority has fined Blackburn insurance broker Aspray £21,000 for failing to maintain appropriate systems and controls for the recruitment, training and monitoring of its appointed representatives. It was also found to have misled clients by falsely telling them that its services were free of charge and not informing them about the Financial Ombudsman Service and their right to refer complaints. Aspray agreed to settle early in the investigation to avoid a heavier penalty.