Further to a June 2011 consultation on draft guidance for credit brokers and credit intermediaries and publication of the final guidance in November 2011, this document summarises responses to the consultation, which, OFT suggests. provides an insight into OFT's thinking in producing the guidance and should be viewed as a “companion” to the guidance document..

The Solvency II delaying "mini-directive" (2012/0110) was referred to the EP ECON committee.

Consolidated texts showing the Council’s general approach.

Text of the above follows. Topics include: transparency of government bond secondary markets; price sensitive information (with regard to governments); credit rating agencies and the”12-jour rule” for rating actions and the market abuse regime.

Topics include: restoring trust in banks; ISA transferring times and current account switching. (23/05/12)

Text of the above, given at the China Financial Summit 2012 in Beijing, follows. Topics include: EBA’s role in fighting the financial crisis; supervisory colleges; crisis management; rule making and the single rulebook.

This note sets out the Council’s position on CRA 3 ahead of talks with the European Parliament. It has mandated the presidency to start negotiations with the European Parliament, on the basis of the Council's general approach, so as to enable adoption of the texts at first reading.

This factsheet notes that FSA has contacted some credit unions and asked them various questions about their processes and longer terms plans, in order to identify potential concerns and rule breaches before they happen. FSA is assigning risk scores to each credit union to identify the ones that may give it cause for concern about their longer term position. The factsheet goes on to explain the risk scores in more detail.

TSC has published correspondence between Andrew Tyrie, Adair Turner and Nicholas Montagu. Andrew Tyrie wrote to FSA and FOS on 19 March 2012 expressing concern about recent reports from a number of small businesses over the way they have been sold complex interest rate derivative products by major banks. The accompanying press release notes that, during a TSC evidence session on corporate governance and remuneration on 22 May 2012, this issue was discussed in the context of the broader prevailing culture within British banks. (22/05/12) Treasury Committee publishes correspondence with FSA and FOS on mis-selling - News from Parliament - UK Parliament

OFT has announced that it has required Wonga.com Limited and some of its associates to ensure that aspects of their debt collection practices are acceptable. This action follows statements made by Wonga to customers in two types of written communications and in the wording of one call script. Without having appropriate justification the letters or emails suggested that customers may have committed fraud and that Wonga would consider contacting the police if customers did not act as Wonga requested. The wording in the call script stated that customers with jobs in the public or financial sectors should not find themselves in debt, and that this was stated in their terms of employment. As a result, OFT has imposed a requirement on Wonga that its communications must not, without appropriate justification: allege that a customer has, or may have, engaged in criminal conduct or refer to the consequences of such conduct state that a customer should not be in debt if the customer has a certain employment status or for any other reason. OFT notes that the letters and emails were sent to customers who had claimed money back from Wonga by asking their card providers to reverse a payment made to the company. They were also sent to some customers who had entered into debt management plans.