Atlanta Insurance Intermediaries Limited

Activities and protection

What they can do, and how you are protected

• Give regulated advice FSCS may apply
  A claim for unsuitable advice is itself FSCS-protected, up to the limit that applies to the product you were advised on.
• Manage or trade investments FSCS may apply
  Eligible investment and pension claims are typically FSCS-protected up to £85,000 per person, depending on the product and your circumstances.
• Sell or arrange insurance FSCS may apply
  Eligible insurance claims may be FSCS-protected, often 90%, or 100% for compulsory or long-term cover.
• Lend or arrange credit No FSCS cover
  Consumer credit is not covered by the FSCS, so there is no compensation scheme if the firm fails.

Check your FSCS cover →

Complaints: You can refer a complaint about this firm to the Financial Ombudsman Service for free, whichever activity it relates to.

Track record

Action taken against them, and what customers complained about

2 fines between 2009 and 2013, £8.15m in total. This is part of the official register record and is worth reviewing before going ahead.

• Fined £7.38m on 16 July 2013

  On 16 July 2013, the Financial Conduct Authority (the FCA) fined Swinton Group Limited (Swinton) £7,380,400 for breaching Principles 3 (Management and control), 6 (Customers' interests) and 7 (Communications with clients) of the FCA's Principles for Businesses. Between April 2010 and April 2012, Swinton adopted an aggressive sales strategy which focused on maximising sales at the expense of treating customers fairly. Specifically in relation to its telephone sales of monthly add-on insurance policies, personal accident, breakdown and home emergency products (the monthly policies), Swinton failed to: (1) pay due regard to the information needs of its customers at the point of sale; (2) take reasonable care to organise and control its compliance procedures with regard to the monthly policies responsibly and effectively; and (3) pay due regard to the interests of its customers and treat them fairly.

• Fined £770,000 on 28 October 2009

  On 28 October 2009 the FSA imposed a financial penalty of £770,000 on Swinton Group Limited (Swinton) in respect of breaches of Principles 3, 6, 7 and 9 of the FSA's Principles for Businesses and associated rules between December 2006 and March 2008 (the Relevant Period) in relation to advised sales of single premium payment protection insurance (PPI). Swinton agreed to settle at an early stage of the FSA's investigation. It therefore qualified for a 30% (stage 1) reduction in penalty, pursuant to the FSA's executive settlement procedures. Were it not for this discount, the FSA would have imposed a financial penalty of £1,100,000 on Swinton. The breaches relate to Swinton's failure: (a) take reasonable care to organise and control its affairs responsibly and effectively, with adequate risk management systems (Principle 3); (b) pay due regard to the interests of its customers and treat them fairly (Principle 6); (c) pay due regard to the information needs of its clients, and communicate information to them in a way which is clear, fair and not misleading (Principle 7); and (d) to take reasonable care to ensure the suitability of its advice and discretionary decisions for any customer who is entitled to rely upon its judgement (Principle 9). In addition, the firm has breached a number of the rules contained in the parts of the FSA Handbook (the Handbook) entitled Insurance: Conduct of Business (ICOB) and equivalent provisions which replaced ICOB on 6 January 2008, entitled Insurance: Conduct of Business sourcebook(ICOBS).

Common questions

Frequently asked questions