Friday, December 22, 2006
Dealer group rapped by FSA
Eastern Western Motor Group has landed in hot water with the Financial Services Authority over failures relating to its sale of payment protection insurance.
According to the financial services watchdog, the dealer group, which has a strong presence in Scotland and Newcastle-upon-Tyne, "failed to organise and control its regulated business effectively".
The FSA said it did not keep an "adequate record of the PPI sale on customers' files or provide customers with a statement of the total price for the PPI policy". The group escaped a financial penalty and instead it was given a censure.
DATED: 22.12.06
FEED: MT
According to the financial services watchdog, the dealer group, which has a strong presence in Scotland and Newcastle-upon-Tyne, "failed to organise and control its regulated business effectively".
The FSA said it did not keep an "adequate record of the PPI sale on customers' files or provide customers with a statement of the total price for the PPI policy". The group escaped a financial penalty and instead it was given a censure.
DATED: 22.12.06
FEED: MT
