What action will the FCA take if firms are found to have not complied with the existing FCA Handbook rules?
The FCA has an established approach to firms that are found to have not complied with the Handbook’s requirements. These are set out in the (SUP), which sets out the FCA’s approach to supervision and (EG) which sets out the FCA’s approach to Enforcement?
There will be a new set of rules that are specific to consumer credit firms, which will appear in the newly created Consumer Credit Sourcebook (CONC). In this Handbook there will be the conduct requirements for consumer credit firms, and the prudential requirements for debt management firms.
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