Home shopping firm fined £270 000 for TPF breach
The Financial Services Authority has today fined Redcats (Brands) Limited £270,000 for failing to treat its customers fairly when selling payment protection insurance in connection with home shopping products. The regulator found that Redcats did not have adequate systems and controls in place to minimise the risk of unsuitable sales.
There were also weaknesses in the way that Redcats operated and maintained its compliance systems, training and competence arrangements and sales processes.
Redcats’ breaches were particularly serious
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