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Adjudication

Publication Date
28 November 2016
Case Reference
99859
Procedure
Track 2
Adjudicated Party
David Drysdale
Service Type
Information
Tribunal's final assessment
Very Serious
Sanctions
4.8.2 (b) Sanctions
4.8.3 (d) Sanctions
4.8.3 (j) Sanctions
Breaches raised
Code 13 4.2.5 Investigations
Code 12 2.3.1 Fairness
Code 13 2.3.1 Fairness
Code 14 2.3.1 Fairness
Code 12 2.3.2 Misleading
Code 13 2.3.2 Fairness
Code 14 2.3.2 Fairness
Code 12 2.6.4 Complaint handling
Code 13 2.6.4 Complaint handling
Code 14 2.6.4 Complaint handling
Code 12 3.4.12 (a) Numbers
Summary

Between 12 October 2015 and 14 November 2016, the Executive received 9 complaints concerning a fixed line loan brokerage service "Bright Sky Loans" (“the Service”).

The Level 2 provider for the Service was David Drysdale T/A Bright Sky Loans (“the Level 2 provider”). The Level 1 provider was Digital Select Ltd.

Complainants variously alleged that they did not receive a loan or any contact from loan companies via the service.

The Executive raised the following potential breaches of the PSA Code of Practice (the Code)

1. Para 4.2.5 - Failure to disclose information

2. Rule 2.3.1 - Fair and equitable treatment

3. Rule 2.3.2 - Misleading

4. Rule 2.6.4 - Refunds

5. Para 3.4.12(a) - Registration of numbers

The Tribunal upheld the breaches of the Code raised, with the exception of the breach of paragraph 4.2.5 which was not upheld.  The Level 2 provider’s revenue in relation to the Service was in Band 3 (£250,000 to £499,999). The Tribunal considered the case to be very serious and imposed a formal reprimand, and a fine of £120,000. The Tribunal also imposed a requirement that the Level 2 provider must refund all consumers, regardless of whether or not they have claimed a refund, and provide evidence to PSA that such refunds have been made. The Tribunal prohibited David Drysdale from providing, or having any involvement in, any premium rate service for a period of five years from the date of publication of this decision.

Administrative charge recommendation: 100%

Click here to view the Adjudication decision