14 Sep 2016
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The Financial Conduct Authority has confirmed the proposals resulting from the consultation in November 2015 should be taken forward.
The proposals include:
The FCA also intends to make changes to the rules and guidance on the handling of PPI complaints in wake of the Supreme Court’s judgment in Plevin v Paragon Personal Finance Limited. The Supreme Court held that a failure to disclose to a client a large commission payment on a single premium PPI policy made the relationship between lender and the borrower unfair under section 140A of the Consumer Credit Act 1974.
The FCA is to consider further feedback before making a final decision on some of the proposals in the package, and the consultation will close on 11/10/2016.
Find out more: Financial Conduct Authority
The Information Commissioner’s Office (ICO) has issued a separate data protection code of practice for the use of surveillance cameras and personal information, the Surveillance Camera Code of Practice. This code covers the use of all devices that views or records individuals and therefore would include something as simple as a camera to monitor entrants to your business premises.
Firms with very limited use of surveillance systems will be able to apply a limited code. Notification to the ICO is required if your firm obtains, records, stores, updates or shares images of individuals.