The government has unveiled plans to give those struggling most with money worries a period of 'breathing space' that would allow them time to seek financial advice on how to manage and relieve their debt burden.
HM Treasury announced this morning the government was seeking views with a view to developing a way to provide a period of up to six weeks that would be free from further interest, charges and enforcement action. "Although many people can and do use credit successfully to manage their personal finances, for the minority who get into difficulties this government wants to offer more support," the statement said. "Problem debt, where people are falling behind on their financial repayments or see...
The Financial Ombudsman Service (FOS) will maintain its current funding model for the next financial year despite recognising it is unsustainable in its current form.
The FCA has confirmed that, while businesses will have to identify certified staff from day one under the Senior Managers & Certification Regime (SM&CR), they will have a year to complete fitness and propriety assessments.
Scott Cadger runs through the four most common reasons people give for not taking out critical illness cover - and some suggestions on how advisers can offer reassurance on each in conversations with clients
The Financial Ombudsman Service (FOS) has sought to provide clarity regarding any potential confusion over the products advisers should recommend to clients to cover a decreasing loan or mortgage.