Financial Services Bill Amendments:

To Ensure Statutory Debt Repayment Plan (SDRP) Arrangements are Timely and Well Funded. A further two amendments that I put forward today (3 March 2021) during committee stage of the Financial Services Bill deal with both the timetable and funding of Statutory Debt Repayment Plan (SDRP) arrangements. The Financial Guidance and Claims Act 2018 created […]

Financial Services Bill Amendments:

Provision of Debt Advice Today (3 March 2021) I am putting forward an amendment to the Financial Services Bill that aims to support financial education by formalising the provision of debt advice. Its purpose is straight forward – to ensure that those who are within the Statutory Debt Repayment Plan scheme will receive debt advice. […]

Financial Services Bill Amendments:

Updating the Know Your Customer [KYC] -Identity Verification- Process. Today (3 March 2021) is day four of the House of Lords committee stage debates on the Financial Services Bill. I am proposing an amendment to highlight the current, sub-optimal, identity verification requirement in financial services known as Know Your Customer [KYC]. This amendment also offers […]

Financial Services Bill Amendments:

6. ‘Lead Generators’ – Time for Regulation. Today (3 March 2021), in the House of Lords, I am putting forward an amendment to the Financial Services Bill which would increase protection for those who find themselves vulnerable to the sharp practice of ‘lead generators’ when they are in debt. The amendment is designed to prevent […]