Watchdog: Some financial firms breach code

FINANCIAL services firms are failing to meet all requirements regarding consumer protection, an investigation by the Financial Regulator has found.

The findings refer to three separate inspections into mortgage intermediaries and insurance firms which were carried out last year to gauge how compliant firms were with the consumer protection code.

The regulator found out of 20 mortgage intermediary firms investigated, a number failed to put enough research into the consumer’s ability to repay.