In December 2017, we published Our Approach to Competition consultation paper. This was the start of a discussion with our stakeholders on our approach to delivering our competition objective, to promote competition in the interests of consumers. Engagement with the consultation was high and the feedback was substantially supportive of our approach...
On 15 October, the FCA wrote to CEOs of high-cost short-term credit firms (payday lenders) regarding the issues surrounding the increase in complaints about unaffordable lending, and set out how the FCA expect firms to review their current practices and manage the impact.
The FCA have undertaken a review of a small sample of debt advice provided by Debt Packager firms and are very concerned about the poor standards we have seen. The poor standards may result in investigation by our Enforcement Division. This will continue to be a focus for us.
Memorandums of understanding Published: 08/10/2018
The FCA and the Securities and Futures Commission (SFC) signed a Memorandum of Understanding concerning Mutual Recognition of Covered Funds and Covered Management Companies and related cooperation (Memorandum) on 8 October 2018.