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FCA Thematic Review: Quality of debt management advice

Posted on June 25, 2015

The Financial Conduct Authority (FCA) today released their thematic review of the debt management sector.

You can view the full document by following the link below:

http://www.fca.org.uk/news/tr15-8-quality-of-debt-management-advice

The General Secretary of DEMSA, Richard Wharton gave this response:

“DEMSA welcomes the publication of the Quality of Debt Management Advice report by the FCA and considers that any action which will improve or help vulnerable consumers in dealing with their problems is welcomed.”

“DEMSA and its members take the implications and content of the report seriously and will continue to work with the regulator to ensure full authorisation of their businesses.”

“In the report the FCA considers that Debt Management firms that meet their standards (whether fee charging or free to customer) can provide a valuable service to consumers struggling with debt. DEMSA members are committed to meeting the Principles for Business as set out in the FCA Handbook and will continue to strive to meet these exacting standards and to provide vulnerable consumers with a fair and valuable service.”