The Financial Services and Markets Act 2000 (Designated Consumer Bodies) Order 2013 was laid before Parliament yesterday and comes into force on 14 January 2014: see here (pdf). The Order designates the National Association of Citizens Advice Bureaux, the Consumers’ Association, the General Consumer Council for Northern Ireland and the National Federation of Self Employed and Small Businesses, as bodies that can make complaints under section 234C(1) of the Financial Services and Markets Act 2000 (inserted by section 43 of the Financial Services Act 2012). Under section 234C(1), a designated body may make a complaint to the Financial Conduct Authority that a feature, or combination of features, of a market in the UK for financial services is, or appears to be, significantly damaging the interests of consumers. Further information is available in the accompanying explanatory memorandum: see here (pdf).
Thursday 19 December 2013
UK: The Financial Services and Markets Act 2000 (Designated Consumer Bodies) Order 2013
The Financial Services and Markets Act 2000 (Designated Consumer Bodies) Order 2013 was laid before Parliament yesterday and comes into force on 14 January 2014: see here (pdf). The Order designates the National Association of Citizens Advice Bureaux, the Consumers’ Association, the General Consumer Council for Northern Ireland and the National Federation of Self Employed and Small Businesses, as bodies that can make complaints under section 234C(1) of the Financial Services and Markets Act 2000 (inserted by section 43 of the Financial Services Act 2012). Under section 234C(1), a designated body may make a complaint to the Financial Conduct Authority that a feature, or combination of features, of a market in the UK for financial services is, or appears to be, significantly damaging the interests of consumers. Further information is available in the accompanying explanatory memorandum: see here (pdf).
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