Rules on non-advised PPI sales must be clearer

In a briefing today John Greenway MP, chairman of the group, said non-advice firms need clearer rules on the selling of PPI because they are still authorised despite not giving advice. Greenway suggested the group submits comments to the OFT before its market study closes at the end of the year. His comments followed a briefing by Tom Baigrie, managing director of LifeSearch, who warns there has been a major increase in the number of non-advised PPI sales, which has resulted in many consumers buying inappropriate products. Moreover, by not going through an IFA those consumers have lost ...