Consumer Credit AdviceAdvice on consumer credit
EZV responded that there was no room for it to exempt itself from licensing and that LawWorks could address the problem directly with the relevant Government Department (HM Treasury). Following the changes, LawWorks has provided Guidance information to all hospitals that are not otherwise subject to FCA restricted approval on regulated risk and the prohibition of advice in all areas of consumer credit and indebtedness as of April 1, 2014.
In 2017, after LawWorks had sought advice on various policy choices, LawWorks sent a letter to the ministers proposing that the Financial Advice and Indemnification Act should be an appropriate piece of law to make a small amendment to include the LawWorks hospitals within the LawWorks organization in the regulations specifically for non-profit organizations set forth in the 2014 General Law.
However, we reasoned that it was likely that the political intent all the time was that free community service counselling, such as pro bono hospitals, should take advantage of tailor-made agreements for nonprofit organizations, so that omitting hospitals might have been a design supervision right. We also worked with members of the House of Commons Bill Committee to review this new piece of law, which covers the rules for the provision of monetary controls and credit advice to the general public, to discuss an amendment to the FCA Regulation's applicability to pro bono law-hospitals.
Financial guidance and claims bill is a far-reaching law that creates a new architectural framework (through a new government agency - the Single Financial Guidance Body) for educating, advising and advising individuals on issues of financial privacy, finances, cash, debt issues and retirement. This change obliges the new entity to take into account the concern arising from the regulation limitation for pro bono hospitals offering credit advice.