How can firms ensure that compliance with the Senior Managers & Certification Regime becomes part of normal business operations?
In its Annual Report, the Financial Services Compensation Scheme has described 2020/21 as its “most productive year” to date. In the 12 months to March 31 2021, it made decisions on 99,528 claims, and in 52,623 (53%) of these cases, either compensation was provided to the claimant, or they received assistance in transferring to a new product.
The latest data from the Finance and Leasing Association shows healthy recent growth in most sectors of the credit market, indeed in some cases, the increases have been substantial.
The Financial Ombudsman Service’s ombudsmen make many adjudications that result in firms losing their case and being ordered to pay compensation to customers.
ICO fines credit card company after it tried to describe marketing emails as servicing communications
The Information Commissioner’s Office has imposed a £90,000 fine on a major credit card provider after it sent 4.1 million marketing emails to customers who hadn’t consented to receiving communications of this nature. The firm’s misconduct continued over a 12-month period between June 1 2018 and May 21 2019.
Leading experts have given their views on how the issue of firms’ treatment of vulnerable customers has evolved over time.
In its latest Ombudsman News newsletter, the Financial Ombudsman Service explained its approach to cases that involve domestic or economic abuse.
Marshall Bailey has been appointed for a second term as chair of the Financial Services Compensation Scheme, and to mark the occasion, he has published an article explaining what he sees as the challenges facing the Service and the financial industry in general.
Changes Announced to Debt Relief Orders (DROs)
The Insolvency Service has released an update following the consultation changes to Debt Relief Orders (DROs). The changes to DROs are now agreed, finalised, and will come into effect at the end of June 2021. Due to the changes, It is expected that over 13,000 more individuals may use DROs within the next 12 months and when compared to 2019 statistics. This represents a 50% increase.
A trade mark is a valuable asset vital to attracting investment and creating opportunities such as licensing. A trade mark is also a significant deterrent to other traders adopting similar business names and provides concrete proof of your claim to legal rights. If you are licensing a mark that belongs to others, it is important to consider the licensing or purchase opportunities available to you in order to avoid a dispute or litigation.