FIN.

Debt management sector: second FCA thematic review published

The FCA has published TR19/01, the second set of findings of its review of the debt management sector.

The focus of this review was firms that provide debt advice and administer debt management plans, on a for- or a not-for-profit basis.

While overall the FCA found that the culture in for-profit firms is appropriately focused on consumer outcomes and acting in customers’ best interests, the FCA identified inconsistencies in advice given, and flagged the need to consider or discuss with the customer suitable available debt solutions, and to ensure that vulnerable customers are identified and treated appropriately and in the way that is suitable for their needs.

Emma Radmore