Regulatory AlertsFS20/1: Recognition of codes: feedback on QCP 25 CP19/27
The FCA issued FS20/1 to formally recognize the Lending Standards Board’s Standards of Lending Practice for business customers regarding unregulated activities. This decision follows a consultation where the regulator addressed concerns about potential customer misleading and transparency, concluding that the standards meet the criteria for recognition. The recognition is valid for three years and indicates that firms adhering to these standards tend to comply with proper standards of market conduct, though it does not create a new basis for enforcement.
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