News

Changes to Google Ads – Debt Services

Introduction Google updated its Financial products and services policy this month to restrict the advertisement of debt settlement, debt management services and introduce a ban to ads for credit repair services. Ads for debt settlement and debt management services (i.e. “debt services” as…

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Motor Finance: a summary of the FCA’s proposal to ban discretionary commission models and enhance the credit broking disclosure rules

  Motor Finance: a summary of the FCA’s proposal to ban discretionary commission models and enhance the credit broking disclosure rules By Jourdain Tambo, Technical Director at The Compliance Company The FCA published CP19/28 setting out its proposal to ban discretionary commission models…

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The FCA Plans to Ban the Way in Which Some of the Motor Finance Sector Receive Commission…

Currently, some motor finance brokers receive commission which is linked to the interest rate that customers pay. The broker can set that rate and the FCA found that the widespread use of this type of commission creates an incentive for brokers to act against…

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SM&CR: FAQs for CMCs

The Senior Managers and Certification Regime (‘SM&CR’) will apply to all regulated FCA Firms from 9th December 2019. It replaces the existing ‘Approved Persons’ regime and seeks to bring greater accountability across the regulated sector. All of our Claims Management Clients are Limited…

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Firms must register for Connect to update their firm details…

“Firms need to register for our online Connect platform. You will need it to send us your firm details – also known as a mandatory annual update. This will be a requirement from January 2020, so we suggest you register now in preparation.…

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FCA steps up efforts to ensure firms are getting ready for a no-deal Brexit

The Financial Conduct Authority (FCA) is stepping up its efforts to ensure firms are aware of what they need to do to prepare for the potential of a no-deal Brexit. Firms who have not prepared appropriately may risk an impact on their business.…

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GC19/3: Guidance for firms on the fair treatment of vulnerable customers

Why is it important? There are many different drivers of vulnerability, and our Financial Lives Survey showed that 50% of UK adults display one or more characteristics of being potentially vulnerable. Vulnerable consumers may be more likely to experience harm. In many cases,…

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SM&CR – Timeline of Actions & Deadlines

With the SM&CR Coming into force on 9th December 2019, we’ve created a handy timeline so you know what you need to do and when you need to do it by… To download the timeline for free, please click here.

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FCA Announcement: Claims Management Companies Must Raise Advertising Standards

Announcement from The FCA: Claims management companies (CMCs) must do more to ensure their promotions do not mislead potential customers according to the Financial Conduct Authority (FCA). Since the FCA took over regulation of CMCs on 1 April 2019 it has reviewed over…

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ICO Updates Guidance on Timescales for Responding to SARs

The Information Commissioners Office (ICO) has issued the following announcement: “Following a ruling by the Court of Justice of the European Union (CJEU), we have updated our guidance on timescales for responding to a subject access request (SAR), as well as other individual rights…

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Financial Ombudsman to Investigate Affordability Complaints from Borrowers

The Financial Ombudsman Service (FOS) has announced that it will now investigate complaints from borrowers who cannot afford their repayments. They will investigate any complaints against lenders to ascertain whether the firm conducted an adequate assessment of the credit risk to the firm…

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Is Your Firm Prepared for Brexit?

Guidance from the FCA “The UK will leave the EU without an implementation period on 31 October 2019 unless a deal is approved or a further extension is agreed. We expect all firms to continue to plan for all scenarios, including a no-deal…

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Get in touch with our team

I engaged Consumer Credit Compliance following the introduction of the new credit regulations. Right from the initial contact I have been impressed by the process, handling of the regulatory matters and the ongoing support. I am confident in the advice provided by my Client Account Manager, Shaun Gill, and am confident that CCC will handle the administration requirements to comply with the regulations. All in all, a first-class service, which I have no hesitation in recommending.

ROGER LLOYD

Birmingham City Football Club plc

I engaged Consumer Credit Compliance following the introduction of the new credit regulations. Right from the initial contact I have been impressed by the process, handling of the regulatory matters and the ongoing support. I am confident in the advice provided by my Client Account Manager, Shaun Gill, and am confident that CCC will handle the administration requirements to comply with the regulations. All in all, a first-class service, which I have no hesitation in recommending.

ROGER LLOYD

Birmingham City Football Club plc

I engaged Consumer Credit Compliance following the introduction of the new credit regulations. Right from the initial contact I have been impressed by the process, handling of the regulatory matters and the ongoing support. I am confident in the advice provided by my Client Account Manager, Shaun Gill, and am confident that CCC will handle the administration requirements to comply with the regulations. All in all, a first-class service, which I have no hesitation in recommending.

ROGER LLOYD

Birmingham City Football Club plc