www.investegate.co.uk/article.aspx?id=2 ... 6662S&fe=1
The FCA has concluded an investigation into Geek Squad mobile phone insurance selling processes at The Carphone Warehouse Ltd that took place between December 2008 and June 2015 and has identified key areas where, in that period, the FCA has determined that the company did not meet expected standards. In concluding the investigation, the FCA has imposed a fine of £29.1m on the company, inclusive of the discount applied on early settlement.
As previously disclosed, the Group took certain provisions as a charge to non-headline profits at its interims on 12 December 2018 and these were also included within the exceptional cashflow guidance given for FY19/20 at the time. As a consequence, there is no impact from today's announcement to the Group's guidance given at its trading update on 22 January.