2017年-FCA英国金融行为监管局_thematic_review_quality_of_debt_management_advice_2页_138kb

Regulator Assessment Summary: Qualifying Regulatory Provisions

Core Content

This document outlines the findings of a Thematic Review conducted by the Financial Conduct Authority (FCA) on the quality of debt management advice. The review was carried out in June 2015 and published on 25 June 2015, with the commencement date set for November 2016. It is a domestic assessment and does not include the implementation of the Cutting Red Tape review.

The thematic review focused on assessing the compliance of eight debt management firms with the FCA Handbook, particularly the CONC and SYSC sourcebooks. The purpose of the review was to evaluate the current standard of compliance with existing regulations, not to introduce new standards.

Affected Businesses

• Type of business affected: Debt management firms that provide debt counselling and debt adjusting services.
• Estimated number of affected firms: Approximately 145 firms authorised by the FCA.
• Geographic scope: The entire UK.

Impact on Business

Overview

The review identified widespread non-compliance with FCA regulations but emphasized that no new standards were established. As a result, no additional costs or obligations were imposed on the firms beyond what was already required by existing rules.

Cost and Benefit Breakdown

• Net cost to business (EANDCB): 0 – No new obligations were introduced.
• Business Net Present Value: 0 – No new costs or changes in value were associated with the review.
• BIT score: 0 – The review did not introduce new regulatory requirements, thus not affecting the BIT score.

Reasons for No Additional Costs

The FCA explains that the poor practices identified were not in line with existing regulations, and therefore, publication of the review does not create new compliance costs. This is due to:

• The specific and prescriptive nature of the relevant CONC rules, which leave little room for interpretation.
• Prior FCA communications that already expressed concerns about the quality of debt management advice.
• The availability of public guidance from organizations such as the Money Advice Service, The Money Advice Trust, and Money Advice Scotland, which align with the expectations outlined in the review.

Additional Guidance (Counterfactual)

Although the review did not establish new standards, some sections could be interpreted as additional clarification of existing rules. These include:

These sections are considered to be inherent in existing rules, and thus do not impose new obligations.

Additional Information for BIT Score Validation

The FCA provides the following information to assist in validating the BIT score:

• The BIT score is calculated based on the net cost to business, which in this case is 0.
• The review does not impose any new regulatory requirements, so no additional costs or changes in business operations are expected.
• The existing rules and guidance from the FCA and external bodies already address the issues raised in the review.

This review is consistent with the Enterprise Act, which assumes that businesses are already compliant with regulatory requirements. Therefore, any costs incurred by firms to meet the expectations of the review are not considered in the net cost to business.