FSA fines Land of Leather for PPI failings

The firm was authorised to sell PPI in May 2006, but did not fully train its sales force until November 2006 and sold PPI without effective checks on its sales force until February 2007, the regulator says. The ruling by the FSA means Land of Leather faces a fine of £210,000, while its chief executive, Paul Briant, must pay £14,000 for failing to property oversee PPI sales. The FSA says that although Briant delegated the task of addressing PPI issues to other senior management, he cannot delegate responsibility, resulting in the personal fine. The failings exposed around 58,000 custom...