Financial Guidance and Claims Act 2018 receives royal assent

Industry News | 15/05/18

The Financial Guidance and Claims Act 2018 received royal assent on 10 May 2018. It includes provisions for:
• a single financial guidance body and debt advice funding in devolved administrations
• the transfer of claims management regulation from the Claims Management Regulation Unit in the Ministry of Justice to the FCA
• a debt respite scheme (aka “Breathing Space” scheme) by secondary legislation
• a ban on cold-calling by secondary regulations

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