FSA fines Thinc £900,000

Holt, Natalie
May 2008
Mortgage Strategy;5/19/2008, p6
Trade Publication
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.


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