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FSA imposes public censure on Cathedral Motor Company

As a penalty the FSA have brought to the public attention a number of failings of FSA requirements by Cathedral Motor Company Ltd, trading as Arbury.

As with many dealers the company sell PPI on an advised basis with finance agreements.

The essence of the failings the FSA found were in regard to monitoring and training staff to ensure they were dealing with the sales in a correct way.

In respect of this penalty the FSA took into account

  • the number of PPI policies were low (257 in 16 months)
  • the problems were identified in a FSA visit in May 2006
  • the company voluntarily suspended PPI sales until their systems were sorted out.
  • the company took steps to contact customers

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