Thursday, March 23, 2006

FSA, OFT to Cooperate on Regulation of Payment Protection Policies

FSA, OFT to Cooperate on Regulation of Payment Protection Policies: "'These improvements, and others like them that will be included in the Action Plan, will help reduce the administrative burdens on firms and assist in the delivery of risk-based regulation, the key objectives of the Hampton Report,' said the announcement. 'As such, and following consultation with stakeholders, the Government has concluded that a significant better regulatory outcome is achievable without changing regulatory responsibility for consumer credit.'"

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