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<p>The Government has fundamentally reformed the regulation of the debt management
market, transferring responsibility to the Financial Conduct Authority’s (FCA) more
robust regime to better protect consumers.</p><p> </p><p>Any consideration of the
state of the debt management market should properly await the outcome of the FCA’s
authorisation assessment of commercial debt management firms, which is expected in
the coming months.</p><p> </p><p>FCA rules make it clear that fees charged for debt
management plans should not undermine the customer’s ability to make significant repayments
to the customer’s lenders throughout the duration of the debt management plan.</p>
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