Brokers must take heed of Bank of Scotland fine

Money give take

Mathew Rutter, financial services partner at national commercial law firm Beachcroft, warned that although in this case it was a bank that was fined, all firms should pay attention.

"The fine was not for mis-selling, but for sub-standard complaints procedures. For example, the FSA found failures to investigate complaints properly and to assess complaints fairly. It also highlighted a failure to carry out adequate root-cause analysis of complaints and deficiencies in record keeping.

"All firms -

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 [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: