FCA contacting 16,000 customers of debt management firm, PDHL

[Legal Beagles]

The FCA is currently writing to 16,000 customers of debt management firm PDHL, which has been refused authorisation and can no longer carry on regulated debt management activities.

http://www.fca.org.uk/news/fca-contacting-16000-customers-of-debt-management-firm-pdhl

1. Final Notice: PDHL Limited
2. The FCA gave PDHL a Decision Notice dated 16 December 2015 confirming that it had decided to refuse PDHL’s authorisation application. That day, PDHL referred the matter to the Tribunal seeking urgent relief, including an order suspending the lapsing of (ie extending) its interim permission. The Tribunal granted PDHL an order extending its Interim Permission until it had decided the application for interim relief, PDHL having agreed not to carry on any regulated activities in the meantime.
   
   PDHL’s application was heard in private on 7 January 2016 and the Tribunal refused it; before the Tribunal formally released its decision, PDHL applied again for an order extending its interim permission, which application the Tribunal refused at a hearing in private on 28 January 2016. However, the Tribunal suspended the effect of its decisions (which it ordered were to remain private) to allow PDHL to pursue its appeal rights, PDHL having undertaken not to carry on regulated activities in the meantime. On 22 February 2016 PDHL agreed to withdraw its appeal, and its interim permission lapsed at 5pm on 9 March 2016.
3. Tribunal decision

[Amethyst]

Re: FCA contacting 16,000 customers of debt management firm, PDHL

Another one bites the dust ....

[Nibbler]

Re: FCA contacting 16,000 customers of debt management firm, PDHL

At least that one has been coming a long time, and is hardly a surprise.

[Amethyst]

Re: FCA contacting 16,000 customers of debt management firm, PDHL

Guess there will be a few more over the next week

Note: The permissions for consumer credit firms that had to apply for authorisation by 29 February 2016 will be updated by the second week of March 2016 and may be out of date until then. Please contact the FCA for further information or up to date information on a particular firm.

[Nibbler]

Re: FCA contacting 16,000 customers of debt management firm, PDHL

Ah. They will be busy busy then......