Thinc has to re-think record-keeping after £900,000 fine

Thinc Group Limited, one of the UK’s largest IFA networks, has been fined £900,000 for deficient record-keeping around sales of sub-prime mortgages during the period 1 January 2006 to 30 September last year. The group comprised at the time 210 appointed representatives and 600 advisers, and completed 775 sub-prime sales from which it earned revenue of £0.7m.