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Archives: December 2015

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Dealing with customers in early arrears

The Financial Conduct Authority’s recent Thematic Review considered how firms are treating customers who fall into arrears and has concluded that, whilst firms across the industry are making improvements into their arrears handling practices, approximately one third of firms are failing …

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Financial Ombudsman Service – Plans and Budget for 2017/18

The Financial Ombudsman Service (“FOS”) has published a consultation on its Plans and Budget for 2017/18. We look at some key areas of interest for regulated firms. Fees Firms should note that the FOS case fee will remain at £550.00. …

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Debt Management Companies Annual Review Reminder

The FCA has sent CEOs of debt management companies (DMCs) a letter reminding them of their compliance obligations in relation to the administration of debt management plans. The regulator has concerns that some firms are not meeting the rules in …

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Debt and mental health

This month Ombudsman news looks in detail at debt and mental health. The ombudsman explain that there is a long established link between mental health and debt. Research suggests that half of people who have a debt problem also have …

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The new Senior Managers Regime

The new FCA and PRA Senior Managers Regime is set to replace the Approved Person Regime in March 2016 for some regulated firms. Whilst most consumer credit businesses are not affected, proposals are afoot to extend this regime to all …

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FCA & Consumer Credit Regime DWF help you navigate through the changes.