- CPPGroup has confirmed that the Financial Conduct Authority has approved an application made by Card Protection Plan Limited (CPPL) to lift the current capital and asset (but not trading) restrictions placed on CPPL in the Voluntary Variation of Permissions (VVoP) of November 2012.

The Company said this will allow the Group to move on from its previous regulatory issues in its UK business, to place the back book of regulated Card and Identity Protection policies within CPPL into a managed decline position and to focus its efforts on a new strategy for its UK operation.

It also follows on from the approval given by the PRA last month in relation to the lifting of the same restrictions previously imposed on Homecare Insurance Limited.

At 2:57pm: [LON:CPP] CPP Group PLC share price was +1.26p at 14.63p

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