FCA fines Swinton £7.4m over aggressive sales scripts

The regulator gave the firm a 30% discount on the £10.5m fine because it had settled at an early stage in the FCA's investigation. But it warned the firm that the fine would have been higher had it not taken part in an FCA study into compensation letter formats earlier in the year. Swinton Group was found to have sold insurance add-ons too aggressively and had failed to treat cutomers fairly, particularly in phone sales, which used a "poor sales script". The FCA said: "The nature of the failings, particularly poor sales scripts, meant that every sale could have been a mis-sale." ...