The Competition and Markets Authority (CMA) has taken enforcement action against 3XD Limited for violating the Payment Protection Insurance Market Investigation Order 2011. Between October 19, 2022, and March 10, 2023, the company charged 3,142 policyholders a £2 monthly administration fee, amounting to a total of £31,256.

According to Article 10 of the aforementioned Order, the imposition of such fees is strictly prohibited. The CMA's intervention highlights the importance of compliance with regulatory standards in the financial services sector.

In response to the CMA's findings, 3XD Limited has refunded all affected policyholders and has implemented measures to ensure that similar violations do not occur in the future. This case serves as a reminder for companies in the industry to adhere to established regulations to protect consumers.