Consultation Paper CP21/30** November 2021

Debt packagers: proposals for new rulesConsultation Paper CP21/30** November 20212CP21/30 Financial Conduct AuthorityDebt packagers: proposals for new rulesMoving around this documentUse your browser s bookmarks and tools to navigate. To search on a PC use Ctrl+F or Command+F on to respondWe are asking for comments on this Consultation Paper (CP) by 22 December can send them to us using the form on our website at: in writing to:David Mendes da CostaFinancial Conduct Authority12 Endeavour SquareLondon E20 1 JNTelephone: 020 7066 2082 Email: c p up for our news and publications alertsSee all our latest press releases, consultations and speeches. Contents1 Summary 32 The wider context 73 Our proposals 14 Annex 1 Questions in this Paper 18 Annex 2 Cost benefit analysis 19 Annex 3 Compatibility statement 39 Annex 4 Abbreviations used in this Paper 43 Appendix 1 Draft Handbook text3 CP21/30 Chapter 1 Financial Conduct AuthorityDebt packagers: proposals for new rules1 SummaryWhy we are These proposals aim to reduce the risk that consumers get non-compliant debt advice that is biased towards debt solutio

and the Consumer Credit Sourcebook. Firms should have regard to our Dear CEO Letter which highlights our expectations and signposts to key rules and guidance. 1.21 We remind firms that advice provided should have regard to the customer’s best interests and not be biased towards debt solutions merely because they generate revenue.

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