FOS regulation could catch small brokers unawares
Small brokers will take the impact of another wave of regulation from the Financial Ombudsman Service (FOS), as a result of new legislation in the Consumer Credit Act 2006.
Last month, the FOS was given jurisdiction to investigate complaints against companies with a Consumer Credit Act license - a move that will affect up to 100,000 firms, including brokers.
Andrew Welch, head of litigation and insurance at Stephensons Solicitors, said licensees would have to comply with the strict complaints
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected].
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Regulation
