Swinton stung by FSA fine for 'serious failings' in PPI scandal
Margaret Cole: "Play fair, or not at all."
Swinton has been fined £770,000 by the Financial Services Authority (FSA) for "serious failings" in its sale of premium payment protection insurance (PPI).
The FSA said the broker had agreed to contact in excess of 350,000 customers and offer refunds on more than 480,000 PPI policies.
The watchdog found that between December 2006 and March 2008 the firm's PPI sales process was flawed. Swinton exited the PPI market in March 2008 following a request from the FSA when the failings came to light.
Th
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- In Depth: Managing cyber risk in an ever-changing security landscape
- Covéa cuts losses but underwriting deficit grows
- JMG strikes its biggest deal of 2024 with BQI swoop