Bonus volkswagen financial services 2017
Toyota team pick up a one-year ban, The Independent.
"The findings do not make pleasant reading said FCA director Tracey McDermott.But the FCA found that more than 200 Lloyds TSB sales advisers received bonuses even though all their sales were unsuitable or potentially unsuitable.BBC (November 23, 2003).The Financial Services segment engages in dealer and customer financing, leasing, banking and insurance activities, as well as fleet management.Lloyds has embarked on a trawl of sales to 692,000 customers to see how many may have lost out.It operates through following segments: Passenger Cars, Commercial Vehicles, Power Engineering, and Financial Services.About 11,000 cases are being prioritised - cases where the behaviour of advisers seemed to be most questionable.
And in 2003 it was fined.9m and handed a 100m compensation bill by the Financial Services Authority for bingo bonus sans depot mis-selling so-called "precipice bonds".The fine could have been 35m had Lloyds not agreed to settle early, the FCA said."Customers have a right to expect better from our leading financial institutions and we expect firms to put customers first - but firms will never be able to do this if they incentivise their staff to do the opposite said Ms McDermott.And one who lost his job said: "I can only describe my nine months in a branch as a disgrace.".The firms had agreed to review sales of investment products by financial advisers and "pay redress where unsuitable sales took place it added."Because there have been numerous warnings to the industry about the importance of managing incentives schemes, and because Lloyds TSB had been fined in 2003 for unsuitable sales of bonds, we have increased the fine by 10 she added.Although Lloyds behaved in a way regarded by the regulator as thoroughly reprehensible.Toyota Motor., Ltd.Another reported that "The only thing that matters is hitting sales numbers, not the customer.".Those customers generally aren't out of pocket.The statement added that the bank did not expect there to be any "material financial consequences" as a result of the fine and potential compensation to customers.Media playback is unsupported on your device.