The House of Commons has not agreed with some of the Lords amendments to the FS Bill.
In particular:
- they reject the addition of the requirement on FCA to make rules on the duty of care to take effect by 6 April 2022, favouring instead a requirement on FCA to consult as to whether it should make such rules – and by making general rules by 1 August 2022 if the results of the consultation suggest it should do so;
- they reject the clause on mortgage prisoners’ remedies as not being a proportionate or practical means of dealing with the problem
The Lords will now consider the Commons proposals on 28 April.