Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

Payment protection: No repeat of PPI, says new regulator boss

The payment protection insurance (PPI) mis-selling scandal is a reminder that it is "better to deal" with problems early on, the boss of the new UK financial regulator says.

Martin Wheatley, who will head up the Financial Conduct Authority (FCA), said the regulator will look to end years of mis-selling of financial products that have ended in banks being forced to pay £12 billion to date in PPI refunds.

Next month, the UK's Financial Services Authority (FSA), which has been the country's financial watchdog for 11 years, will be disbanded and replaced by the FCA.

The FCA will be responsible for consumer issues and the conduct of firms. Another body, the Prudential Regulation Authority, set up as a division of the Bank of England, will cover banking regulation.

Speaking at a press conference, Mr Wheatley said the FCA would be no "pushover", adding: "We will be on the front foot when we see things we don't like."

Analysts say firms are bracing for some of their products to be temporarily banned while the FCA looks at whether consumers are being ripped off.

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-801562042-ADNFCR

Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide