The FCA are proposing to make the rules as set out in CP21/30, with minor amendments. The FCA are reconsulting to allow stakeholders to comment on the analysis of our expanded evidence base, feed back on our proposed implementation period and, given the passage of time since the original consultation, allow the opportunity to raise any new issues or developments of which the FCA should be aware. The FCA are also seeking views on proposed perimeter guidance to clarify the boundary of the regulated activity of debt counselling in relation to activities commonly carried out by unauthorised lead generators.

This response is based on the expertise of our Personal Insolvency Committee members, who are experienced in dealing with individuals in significant financial distress. The Committee is multi-disciplinary and is made up of representatives from across the insolvency and restructuring profession, including practicing insolvency practitioners, solicitors, and others.