UK watchdog fines mobile phone insurance broker $4.3 million

By Sarah Mortimer London (Reuters) – The UK’s financial regulator has slapped a 2.8 million pound ($ 4.3 million) fine on the company which administers mobile phone insurance sold by Phones 4u for poor handling of complaints. The Financial Conduct Authority said in a statement on Wednesday an investigation had found significant failings in the way Policy Administration Services had handled complaints between June 2009 and September 2011. …

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