FSA to escalate regulatory intervention

In an update on its thematic review of the sale of payment protection insurance, the Financial Services Authority (FSA) said it would be escalating its regulatory intervention. The regulator will be considering the action it will take to deal with ongoing non-compliant sales practices and consider actions to identify and remedy non-compliant past sales, using a range of regulatory powers at its disposal. A further update on the third phase of its work will be published in early 2009.

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