Sofa firm fined over lax insurance selling controls

UK sofa firm Land of Leather was today hit with a £210,000 (€266,000) fine by a finance watchdog for putting thousands of customers at risk from lax controls over the selling of payment protection insurance (PPI).

The Financial Services Authority (FSA) said the company sold PPI for nine months until February 2007 “without any effective check on its sales force” to ensure it was being sold fairly.