Related provisions for CONC 8.4.1
1 - 7 of 7 items.
A firm must ensure that advice provided to a customer, whether before the firm has entered into contract with the customer or after, is provided in a durable medium and: (1) makes clear which debts will be included in any debt solution and which debts will be excluded from any debt solution; [Note: paragraph 3.38j of DMG](2) makes clear the actual or potential advantages, disadvantages, costs and risks of each option available to the customer, with any conditions that apply for
A firm must:(1) provide the customer with a source of impartial information on the range of debt solutions available to the customer in the relevant country of the UK; [Note: paragraph 3.23b of DMG](2) before giving any advice or any recommendation on a particular course of action in relation to the customer'sdebts, carry out a reasonable and reliable assessment of:(a) the customer's financial position (including the customer's income, capital and expenditure);(b) the customer's
(1) The information and advice referred to in CONC 8.3 should be provided in a manner which is clear fair and not misleading to comply with Principle 7 and CONC 3.3.1 R, and should be in plain and intelligible language in accordance with CONC 3.3.2 R. A firm should encourage a customer to read the information and allow sufficient time between providing the information and entering into the contract to enable the customer to seek independent advice if so desired. [Note: paragraphs
A firm must include in its written contract (other than a credit agreement to which the Consumer Credit (Agreements) Regulations 2010 apply) the following matters:(1) the nature of the service to be provided by the firm, including the specific debt solution to be offered to the customer; [Note: paragraph 3.40b of DMG](2) the duration of the contract; [Note: paragraph 3.40c of DMG](3) the total cost of the firm's service or, where it is not possible to state the total cost, the
A firm must not include the following terms in a contract with a customer:(1) a term requiring the customer to sign a declaration stating in any way that the customer understands the requirements of the contract; [Note: paragraph 3.41a of DMG](2) a term restricting or prohibiting the customer from corresponding with or responding to a lender or with any person acting on behalf of a lender;[Note: paragraph 3.41b of DMG](3) a term which states or implies the firm has no liability
A firm must ensure that a financial promotion or a communication with a customer (to the extent a previous communication to the same customer has not included the following information) includes:(1) a statement of the services the firm offers;(2) a statement of any relationship with a business associate which is relevant to the services offered in the promotion; [Note: paragraph 2.5a of DMG](3) a statement setting out the level of fees charged for the firm's services, how they
A firm must not:(1) unless it is a not-for-profit debt advice body or a person4 who will provide such services, operate a look alike website designed to attract customers seeking free, charitable, not-for-profit or governmental or local governmental debt advice; or [Note: paragraph 3.20a of DMG](2) seek to use internet search tools or search engines so as to mislead a customer into visiting its website when the customer is seeking free, charitable, not-for-profit or governmental
(1) One aspect of conducting a firm's business with due skill, care and diligence under Principle 2 is that a firm should ensure that it gives appropriate advice to customers residing in the different countries of the UK. Failure to pay proper regard to the differences in options for debt solutions available to those customers and to the differences in enforcement actions and procedures is likely to contravene Principle 2 and may contravene other Principles. [Note: paragraph 3.23d
Where entry into a debt solution will lead to a period when payments to lenders (in part or in whole) are not made or are retained by the firm, the firm must, as soon as possible after the customer enters into the debt solution, notify the customer'slenders of the reason payments are not to be made to the lender and the period during which that will be the case. [Note: paragraph 3.18niv of DMG]
(1) The distance marketing rules in CONC 2.6, including the right to cancel in CONC 11, apply to firms with respect to distance contracts which are credit agreements, consumer hire agreements and agreements the subject matter of which comprises, or relates to, debt counselling, debt adjusting, providing credit information services and providing credit references. CONC 11 excludes various credit agreements from the right to cancel.(2) Where a consumer uses the right to cancel under
A firm must not:(1) without a reasonable justification, switch a customer from one debt solution to another while making a further charge for setting up or administering the new debt solution to the extent that some or all of that work has already been carried out by the firm; [Note: paragraphs 3.32 and 34k of DMG](2) switch a customer to a different debt solution, without obtaining the customer's consent after having fully explained to the customer the reason for the change;
(1) Where a firm gives advice to a customer not to make a contractual repayment or to cancel any means of making such a repayment before any debt solution is agreed or entered into, the firm must be able to demonstrate the advice is in the customer's best interests.(2) Where a firm gives advice of the type in (1), the firm must advise the customer (C) that if C adopts the advice C should notify C's lenders without delay and explain that C is following the firm's advice to this
Examples of practices that are likely to contravene the clear, fair and not misleading rule in CONC 3.3.1 R include:(1) stating or implying that a firm is a lender (where this is not the case);[Note: paragraph 3.7e (box) of CBG](2) misleading a customer as to the availability of a particular credit product; [Note: paragraph 3.9p of CBG(3) concealing or misrepresenting the identity or name of the firm; [Note: paragraph 3.7g (box) of CBG(4) using false testimonials, endorsements