In its Memorandum and Instruction concerning Debt and Claims Limited, the FCA has stated that debt management firms will be amongst the first it will be assessing (from 1 October 2014) as to fitness to be fully authorised. The FCA also states that it is reasonable to anticipate that some other debt management firms may exit the sector prior to 1 October 2014.
View FCA memorandum and instruction on Debt and Claims Limited, 20 June 2014