AFB launches PPI checklist
www.moneynews.co.uk > General finance > AFB launches PPI checklist
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Money News |
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AFB launches PPI checklist
Wed 16th Aug 2006
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The pack has been designed to assist members with their PPI sales procedures and is produced with regard to the Financial Services Authority (FSA) and the Office of Fair Trading (OFT).
Following its work into PPI last November, the FSA has urged firms involved in the sale of PPI to review their sales methods.
The FSAs work identified ten key concern, which included the risk of inappropriate sales, poor quality advice, lack of consumer clarity over when PPIs are needed and lack of compliance over product and price rules.
"Members should consider the issues already raised by both the FSA's and OFT's work and use the AFB factsheet to review their firm's PPI sales procedures to ensure they are compliant with current regulation," comments Rob Griffiths, associate director of AFB’s sister trade body The Association of Mortgage Intermediaries.
"We will continue to keep members informed of any future developments."
Related News : General finance |
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