FCA publishes Debt Advice Portfolio letter on Consumer Duty implementation
The Financial Conduct Authority (FCA) has published a “Dear CEO” letter entitled ‘Implementing the Consumer Duty for the Debt Advice Portfolio’. The letter reminds firms whose primary business model is debt advice that the Consumer Duty is a significant shift in the FCA’s expectations, bringing a more outcomes-focused approach to consumer protection and raising standards […]
Read MoreFinancial watchdog proposes to ban debt packager referral fees to protect consumers
The Financial Conduct Authority (FCA) is to push ahead with proposals to ban debt packager firms from receiving referral fees from debt solution providers, following further analysis of the market. The FCA initially consulted on a ban in November 2021 after identifying a lack of adequate management of the conflict of interest between giving advice […]
Read MoreBob’s Blog: MALG National Members Meeting Thursday and other news
2023 has got off to a flying start for MALG and our Members and plans for this year’s Autumn Conference are now well under way. Watch this space for more details soon! In the meantime…. MALG National Members Meeting this Thursday If you are a National Member and have not yet registered for this week’s virtual […]
Read MoreBusiness Secretary calls on energy suppliers to put consumers first
Business and Energy Secretary Grant Shapps has given energy bosses a deadline of Tuesday 7 February 2023 to report back to him on what remedial action – such as providing compensation – they plan to take should they have wrongfully installed prepayment meters in the homes of vulnerable customers. It comes in the wake of […]
Read MoreMoney Advice Trust announces major new enhancements to debt advice services
Money Advice Trust has announced major enhancements to its National Debtline and Business Debtline services as part of its new contracts with the Money and Pensions Services (MaPS). Key enhancements to Money Advice Trust services include: The launch of the new National Debtline Partnership, which for the first time will offer a telephone casework service […]
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