FCA portfolio strategy letter to credit brokers

Regulatory Updates | 13/02/20

The Financial Conduct Authority (FCA) has written to firms in its Credit Brokers portfolio setting out the key risks credit brokers should consider and act on. The letter outlines the FCA’s areas of focus in the credit broking sector, including an exploration of domestic premises suppliers (DPS), which the FCA considers potentially present a higher risk of consumer harm, particularly when sales take place in a customer’s home without appropriate oversight. The FCA intends to review DPS firms to identify whether adequate controls are in place to mitigate such risks.