unit 3 topic 8 Flashcards
1
Q
financial conduct authority (FCA)
A
regulates financial services in UK - protecting customer, keeping the industry stable and keeping healthy competition between financial service providers
2
Q
financial services compensation scheme (FSCS)
A
can step in to say compensation if company cannot to pay claims against it
3
Q
office of fair trading (OFT)
A
non - ministerial department - acts as the regulator - responsible for enforcing consumer competition and protection - fair deals
4
Q
legislation : consumer credit
A
law covering most types of lending in the UK - sets out rules for how businesses can lend, how they collect money and consumer rights when borrowing
