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FCA Financial Conduct Authority (Read 2,870 times)
loddon
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FCA Financial Conduct Authority
Apr 15th, 2014 at 8:35am
 
The FCA has belatedly made an announcement about the use of rip-off phone numbers within the Financial Services Industry :---

http://www.fca.org.uk/news/press-releases/fca-says-time-to-end-premium-calls-for...

The FCA says  "The FCA is concerned that customers are being charged high rates to contact financial services firms and will consult with industry, consumer organisations and consumers to ensure customer calls are more affordable."

A rather weak and pathetic statement considering that it has been prompted by the Consumer Rights Directive from the EU and consequent legislation brought into Britain by the BIS government Department.   This legislation requires that companies stop using such numbers by 13 June this year.
The FCA have already been helped by the large Banks, Barclays and RBS moving away from rip-off numbers.   The FCA could show much more urgency and determination to protect the interests of consumers.

Ian of the Fair Telecoms Campaign said in the Daily Mail :---

"In 2011 the EU published the Consumer Rights Directive banning retailers, traders, and optionally, passenger transport companies, from using telephone numbers that are charged above "basic rate" for their customer service helplines. The implementation date was to be no later than 13 June 2014. The UK published draft legislation in August 2013 and the final version in December 2013. It bans the use of 084, 087 and 09 numbers. It allows 01, 02, 03, 080 and standard mobile numbers. The Cabinet Office also published similar rules for government departments and public services in December 2013. The FCA has been aware of these developments since the beginning, had the opportunity to be proactive in sorting this problem out within the financial sector, and yet has done absolutely nothing except, in December 2013, say that they were thinking about it. That's not good enough. If they started now, there would be a three month consultation then six months for implementation. Too little, too late."

http://www.dailymail.co.uk/news/article-2603078/Banks-told-stop-using-premium-ra...

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« Last Edit: Apr 15th, 2014 at 9:57am by loddon »  
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