A car supermarket has been fined £91,000 by the Financial Services Authority (FSA) for failing to properly monitor sales of payment protection insurance.
The FSA fined UK Car Group (UKCG) in relation to failings of its appointed representative CC Automotive, trading as Carcraft. The watchdog said UKCG failed to take reasonable steps to ensure advice given to customers was suitable. It added the company had failed to respond to warnings made in its internal audits and fell short of the standards expected from an authorised firm and appointed representatives. Carcraft, which is based in Rochdale and describes itself as "the UK's leading car supermarket", has a network of dealerships in England and Wales. Apart from its main business o...
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