The Information Commissioner’s Office has fined a Nottingham-based marketing company £120,000 after it was found to have made 159,461 unsolicited direct marketing calls relating to life insurance. The calls continued over a five-month period between May and October 2019 and were all made to consumers who had registered with the Telephone Preference Service and should therefore not have received any marketing calls.
Economic good cheer has been in short supply of late, but February saw the consumer confidence index rise to its highest level in 12 months.
A new Financial Conduct Authority study has shone a spotlight on the typical circumstances of different individuals who experience financial difficulties. The team of FCA and external experts carried out a comprehensive analysis of the credit files of almost 500,000 UK adults over a three-year period from 2015 to 2018.
The Help To Buy scheme in England has been extended by two months until May 31 2021, with the coronavirus pandemic estimated to have delayed construction of some new homes by as much as eight months. The extension only applies where an application is already in progress.
Review of pension advice allowance to take place
The Financial Advice and Market Review was commissioned in 2015 by the Financial Conduct Authority and the Treasury and was designed to improve access to financial advice. In some respects, the Review has ‘been and gone’, with the FCA having already published its assessment of its effectiveness.
The figures for December 2020 begin to suggest that the pandemic might finally be having an adverse effect on the number of insolvencies, after an extended period earlier in the year when the government’s support schemes may have diluted the financial impact of Covid-19.
A new HM Treasury scheme could give new hope to customers of a prominent mini-bond firm which collapsed in 2019.
The Advertising Standards Authority has banned four Instagram adverts issued by one of the largest firms in the ‘buy now pay later’ credit market. The advertisements must not be used again in the same form, and the firm has also been issued with an instruction not to issue any marketing material in future which makes the suggestion that using their credit product could improve the consumer’s mood.
One of the UK’s major guarantor lenders has said it intends to enter into a scheme of arrangement, which could result in consumers with complaints against the firm receiving less than they expected.