TITLE

FSA fines Thinc £900,000

AUTHOR(S)
Holt, Natalie
PUB. DATE
May 2008
SOURCE
Mortgage Strategy;5/19/2008, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the £900,000 fine imposed by the Financial Service Authority (FSA) of Great Britain to Thinc Group due to inadequate compliance systems and lack of evidence that customers had been given suitable sub-prime advice. Margaret Cole, director of enforcement at the FSA, said that the fine shows that they are determined to impose high penalties for serious failings in the retail market. However, Thinc agreed to a remedial program to improve its standard.
ACCESSION #
32193504

 

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