Regulatory Alerts2008-11-05
Letter regarding Addendum to Consumer Protection Code for Retail Credit Firms
The Financial Regulator issued this letter to inform firms providing retail credit that the Consumer Protection Code and Minimum Competency Requirements apply to their business effective 1 June 2008. The regulator attached addenda to these documents to implement necessary amendments required by recent legislation mandating authorization and ongoing supervision for retail credit firms. While the regulator acknowledges potential initial technical and training difficulties during the first two months of implementation, firms are directed to submit any queries to the specified email address.
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