01 · In plain English
What happened.
On 9 October 2024 the Financial Conduct Authority fined TSB Bank Plc £10,910,500 after finding breaches of PRIN 3 and PRIN 6 related to the unfair treatment of customers in its retail banking, mortgage and consumer credit businesses. PRIN 3 requires firms to organise and control their affairs responsibly and effectively (management and control); PRIN 6 requires firms to pay due regard to customers’ interests and treat them fairly. The FCA’s Final Notice records the breaches and the financial penalty of £10,910,500.
Summarised from the FCA's notice and press reports. The FCA's own text and documents below are the authoritative record.
02 · Enforcement details
What the FCA published.
On 9 October 2024, the Financial Conduct Authority fined TSB Bank Plc £10,910,500. This Final Notice refers to the breaches of PRIN 3 and 6 related to the unfair treatment of customers in the retail bank, mortgage and consumer credit sectors. We imposed a financial penalty of £10,910,500. Source: the FCA's published list of 2024 fines.
03 · Firm details
Firm on the FCA register.
- Firm name
- TSB Bank Plc
- Firm reference number
- 171654
- Register status
- No longer registered as an Appointed Representative
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