Industry News
BSA responds to FCA duty of care proposal
Christopher Lawrenson MBE, Head of
Legal Services at the BSA comments:
“The key issues regarding conduct in
financial services in the early 2000s
were twofold: Firstly, certain firms
demonstrated poor governance practices
and culture. Secondly, there was
inadequate regulatory oversight and
enforcement - with a major factor being
the lack of regulatory tools to apportion
and enforce individual accountability.
“The legal and regulatory landscape
has been, rightly, strengthened and
supplemented considerably in the
intervening years with a range of
additional consumer protections. This
includes addressing the very important
matter of individual accountability.
Crucially, these measures need time to
‘bed down’ and be tested. The clear
conclusion is that, since there are ample
rules, law and duties to protect UK
financial service customers, there is no
need for an additional duty of care.
“A complicated and overlapping
framework of consumer protection laws,
regulatory rules and EU-derive measures
can leave today’s consumers bewildered
West Midlands organisations
urged to work together to
prevent homelessness
The West Midlands Homelessness Taskforce and the Chartered Institute of
Housing (CIH) are joining forces to step up the battle against homelessness
– with a focus on prevention.
West Midlands Mayor Andy Street set up the Homelessness Taskforce
in collaboration with local authorities in May 2017 to ‘design out’
homelessness in all its forms.
Now the taskforce is working with CIH to invite public service
organisations across the region to get involved in its work to address the
systemic and structural issues which can cause homelessness.
The single biggest cause of homelessness in the West Midlands is eviction
from a private rented property following the end of a tenancy. Other key
causes include domestic violence and relationship breakdown.
“Too many Londoners have
been asked to leave rented
accommodation” - statement
on ‘no-fault’ evictions
consultation
Government has today launched a consultation on banning ‘no-fault’
evictions using section 21 notices in the private rented sector.
In response Cllr Darren Rodwell, London Councils’ Executive member for
Housing and Planning, said:
“Government proposals to abolish ‘no fault’ section 21 evictions are a
welcome move that we have long been calling for.”
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about their rights. Adding a further
duplicative and unnecessary duty to the
mix would therefore be counter-productive
for both consumers and businesses. What
consumers need is proper enforcement
of the numerous provisions that already
exist.
“The BSA will consider constructively
the proposals that emerge from the FCA’s
planned consultation in the Autumn,
but we believe that a simplification (not
weakening) of consumer protections,
rather than further complexity, would be
the approach that serves consumers best.”
Scrapping Section
21 could dampen
housing supply
warn rental
experts
• Four million households in the UK are
privately rented.
• The Government’s recent announcement to
scrap Section 21 will enable tenants’ access
to more stable housing.
• Rental expert Just Landlords provides
its analysis on the recent property rental
news and how to ensure a smooth eviction
process.
The Government’s recent announcement to scrap
Section 21 and ban no-fault evictions is one of
the biggest moves to improving tenants’ rights
and promoting more stable housing for privately
rented households.
Currently, Section 21 enables private landlords to
evict tenants with as little as eight weeks’ notice
after a fixed notice period has come to an end.
This part of the 1988 Housing Act is one of the
biggest causes of family homelessness within
the UK, while also limiting the tenant’s ability to
maintain secure and stable housing.