FSA “not convinced” PPI rules are enough

The Financial Services Authority (FSA) is putting the Payment Protection Insurance (PPI) industry under greater scrutiny as part of its regulatory work to improve sales practices in the sector. The regulator said it will review its current rules on PPI as part of its new programme of work as it “is not convinced that [our] current rules relating to PPI are delivering the protections that customers deserve and intends to see if there is a case for changes to some of the existing rules or the introduction of new rules”.