FSA enforces PPI reforms to fix 'broken' market

It says the reforms will ensure customers are treated more fairly when buying the product and also if they have to make a complaint. The new measures come after a widespread review of the PPI market which saw the  FSA take action against 24 firms and individuals for failings, with fines totalling approximately £13m. Firms must implement the reforms by 1 December 2010 and the FSA will be monitoring providers closely to ensure they meet the new standards. The measures include: new handbook guidance to ensure complaints are handled properly, and redressed fairly where appropriate...