FSA fines broker network director for PPI failings
The Financial Services Authority (FSA) has fined the director of a network for failing to properly supervise appointed representatives (AR) working on behalf of the firm.
David Head, director of Essex based mortgage and insurance broker network FT Compliance Services (FTCS), £10,500 for failing to properly supervise insurance brokers he knew had close links with a firm and individual previously disciplined by the regulator for payment protection insurance (PPI) failings.
FTCS operated as a network and recruited mortgage and insurance brokers as ARs. The FSA said that Mr Head was solely responsible for ensuring FTCS and its ARs were compliant but had failed to put
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