FSA takes tough action against insurance firm

The firm was found to have failed to ensure advice given to customers was suitable and for not organising its business responsibility and to properly manage risk. On an individual level, Hall was found to lack the competence and capability to ensure the firm compiled with TCF regulations. PMSG failed to take fully into account its customers personal and financial circumstances in re-mortgaging cases. It did not seek to verify information provided by customers which was inconsistent with information provided by them at an earlier point in the sales process, and failed to retain sufficient...