consultation paper, rules for the new consumer credit jurisdiction

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consultation paper - June 2006 rules for the new consumer credit jurisdiction - responses

The Financial Ombudsman Service invites comments on this consultation. Please send responses to reach us by 11 October 2006.

Where possible, please send responses by email to: adrian.dally@financial-ombudsman.org.uk.

Alternatively, please send responses in writing to: Adrian Dally Financial Ombudsman Service South Quay Plaza 183 Marsh Wall London E14 9SR Fax: 020 7093 5587

We will make all responses available for public inspection unless you request otherwise in writing. A standard confidentiality statement in an email message will not be regarded as a request for non-disclosure.

who should read this consultation paper?

We expect this consultation paper to be of interest both to businesses and to consumers.

It will be of particular interest to businesses with standard licences issued by the Office of Fair Trading under the Consumer Credit Act 1974. Most of these will not have been covered by an ombudsman service before.

Those consumer credit businesses which are also regulated by the Financial Services Authority are already covered by the ombudsman service, but there will be some changes to the ombudsman arrangements for these businesses.

The consultation paper will also be of interest to consumers, as it sets out how the new ombudsman arrangements for consumer credit will work.