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CMA publishes letter on NewDay Ltd breaches of PPI Market Investigation Order 2011

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Published on: 29 October 2021

Published by LNB News

LNB News 29/10/2021

Document Information

Issue Date: 29 October 2021

Published Date: 29 October 2021

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Competition and Markets Authority (CMA) has published a letter addressed to NewDay Ltd regarding five instances of non-compliance with the Payment Protection Insurance (PPI) Market Investigation Order 2011. The breaches relate to: failure to issue annual review statements to customers, incorrect information provided in annual review statements to PPI customers and failure to appoint a PPI Compliance Officer when it acquired its PPI book in 2013. NewDay Ltd has apologised to all impacted customers and offered a refund of premiums.

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