The Pre-Budget report in November 2008 committed the Office of Fair Trading (OFT) to publishing a Financial Services Plan. The aim of the plan will be to set out a coherent and co-ordinated approach to all the OFT's work across the financial services sector reflecting the current economic climate and enabling the OFT to respond flexibly to changing circumstances.
The OFT has now published a Consultation Paper entitled Financial Services - a strategy. The consultation is intended to give stakeholders the opportunity to comment on the OFT’s Financial Services Strategy, which will feed into a final plan.
Comments on the Consultation Paper are invited by 12 June 2009.
The British Bankers Association (BBA) has published a press statement on the OFT’s consultation. The BBA is keen to learn how the OFT’s proposed review of unsecured credit will accommodate the changing legal landscape.
View Financial Services Strategy - a consultation document, 7 April 2009
View BBA statement on OFT strategy proposals, 7 April 2009