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The UK monetary watchdog plans to seek the advice of on extending the time finance corporations have to reply to shopper complaints involving non-discretionary commissions and granting shoppers extra time to escalate these complaints to the Monetary Ombudsman Service.
“We’re appearing swiftly to deal with considerations raised by the Court docket of Enchantment’s latest ruling,” the Monetary Conduct Authority (FCA) introduced this week.
Anticipated to publish proposals inside two weeks, the FCA is aiming for a mid-December implementation of this extension, ought to or not it’s adopted.
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