Homeserve agrees FCA fine of 30.6m pounds

13th Feb 2014 08:20

Home emergency repair group HomeServe said Thursday that it had agreed to pay a fine of 30.6m pounds in relation to the Financial Conduct Authority's (FCA) investigation into historic regulatory issues at its UK business. The issues were mainly related to sales and marketing, controls and governance and complaints handling procedures that were last in operation over two years ago.Chief Executive Officer Richard Harpin said: "We acknowledge the FCA's final notice which brings its investigation to a conclusion. We sincerely regret that some customers have been affected by these issues. "We have transformed the business, rebuilding and strengthening the management team, retraining staff and restructuring systems and controls. We have worked very hard over the last two years to put customers back at the heart of our business and we are committed to offering valuable products with a high quality of service." HomeServe added that all of the customers that may have been affected as a result of the historic practices will have been contacted by the end of March 2014. The share price fell 0.54% to 332.50p by 08:40. NR