| Viewing Single Post From: Hungarian Fsa Slams Provident Financial, 13/10/06 | |
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| whistleblower | Oct 28 2006, 09:51 AM |
www.saynotoyes.co.uk
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Hungarian FSA slams Provident Financial, 13th October 2006 The Hungarian Financial Supervisory Authority (PSZAF) has forced Provident Financial to suspend its business there as a result of serious breaches of regulations. Breaches include failure to follow money laundering rules (by failing to obtain proper details of customer identification and failure to get proper client declarations)and proper accounting policies. The PSZAF has also insisted that Provident provide full employment status to its agents - something that has previously been called for in the UK but which Provident continues to resist here. The PSZAF has handed out a fine of £2,000,000 Hungarian Forints (£5,000) and insisted that an examiner remain permanently on site at Provident's Hungarian business until the matters have been rectified. In the case of the money laundering and accounting breaches,Provident have been given only 15 days to submit a full action plan to address the issues whilst they have been allowed 90 days to sort out the employment status of their agents. Provident have played down the impact of the regulators actions in the UK press, but has admitted that the actions against them could cost up to £2 million in the current year, £7 million in 2007, and £4 million in 2008. www.debt-on-our-doorstep.com |
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<a href="http://www.dpbolvw.net/click-2359542-10365649" target="_top"> <img src="http://www.awltovhc.com/image-2359542-10365649" width="120" height="60" alt="" border="0"/></a> Applying for car finance? <a href="http://www.kqzyfj.com/click-2359542-10366647" target="_blank" onmouseover="window.status='http://www.creditexpert.co.uk';return true;" onmouseout="window.status=' ';return true;">View your Experian credit report online for FREE</a> and see what lenders will see <img src="http://www.tqlkg.com/image-2359542-10366647" width="1" height="1" border="0"/>  <FONT COLOR=RED>Vanquis credit card is owned by provident Financial.Typical 39.9% APR variable Say No! </FONT> Are you having problems with Yes Car Credit or a debt collection agency? Make your complaint direct to the Office Of Fair Trading and BBC1 Watchdog below:. James.MacDougall@oft.gsi.gov.uk or telephone 08457 22 44 99 watchdog@bbc.co.uk or telephone - 020 8535 1000 ****************************************** Advice & opinions of the 'saynotoyes' team are offered informally, without prejudice & without liability. Use your own judgment. Seek advice of a qualified insured professional if you have any doubts ****************************************** 
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| Hungarian Fsa Slams Provident Financial, 13/10/06 · Provident Financial News @ Information | |
7:41 PM Nov 27
