This is the new MLex platform. Existing customers should continue to use the existing MLex platform until migrated.
For any queries, please contact Customer Services or your Account Manager. Dismiss

Five debt-packager companies cease regulated activity following action by UK's FCA

( July 20, 2021, 09:48 GMT | Official Statement) -- MLex Summary: Five debt-packager firms have stopped providing regulated debt advice following concerns found by the UK’s Financial Conduct Authority that consumers were being harmed. The FCA found in a review that firms were persuading customers to take on products without fully explaining the risks involved and were failing to take into account consumers’ vulnerabilities. The companies voluntarily agreed to cease providing regulated services until the FCA is satisfied that they comply with the rules. The five are: Assist UK Group, Two Financial Services, Consumer Money Worries, Faith Financial Solutions, and Debt Help.Statement follows. Letter from FCA to insolvency services and response attached....

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.


Know what others in the room don’t, with features including:

  • Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
  • Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
  • Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
  • Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login

Documents

Related Sections