Hot Topic: Has the FCA done enough to regulate the debt management industry?
The provision of debt management services and the FCA’s new regulations continue to be a hot topic, widely debated in the news and parliament.
Matt Cheetham, CEO Harrington Brooks, speaking yesterday at a round-table debate hosted by CSFI, London:
“Regulation has been a much needed catalyst to raise minimum standards across both debt managers and creditors but to some extent, that’s not addressing part of the problem which is about education”.
The debate between Matt Cheetham and Damon Gibbon, Director of the Centre for Responsible Credit acknowledged the FCA’s regulatory efforts and also raised the point: “What should be important is the quality of the advice and ongoing service rather than who pays for it.”