CPP says it will survive after deal with FSA in mis-selling inquiry

The credit card and identity theft protection group CPP has reached a deal with the Financial Services Authority (FSA) over mis-selling policies which could save it from going under.

But the company's shares will remain suspended for several weeks, it will not pay a dividend and could still face a substantial fine.

CPP had to suspend dealing in its shares on Monday and warned then that the FSA's requirements were "disproportionate and threatened the viability of the business".

Yesterday CPP said it had agreed a deal with the FSA.