New Debt Management Guidance

The OFT has released updated guidance on the standards it expects from debt management firms or firms offering credit repair services. The guidance incorporates  previous versions including much of what was included in the consultation in June 2011. 

Hector Sants to leave FSA in June

The chief executive of the Financial Services Authority (FSA), Hector Sants, has announced he will leave the regulator in June.

It means he will not take up his planned role as boss of the new the Prudential Regulation Authority (PRA) which is due to start operating in 2013.

Why you need file checks

How many files should I be checking?  I only complete prime cases, so do I need file checks? Will the FSA expect to see file checks as part of the current Business Risk Assessment Workshop (BRAW)?  Is it now easier to complete a compliant file as the industry has restricted the higher risk products?