The Financial Conduct Authority (FCA) has issued a warning about a ‘clone firm’ impersonating the free debt advice service National Debtline using the name ‘National Debt Helpline’ online. The warning is part of a wider issue of commercial firms impersonating legitimate debt advice charities. Three weeks ago the regulator issued a similar warning about a…

Ofgem has appointed EDF Energy to take on supplying Solarplicity Supply Limited’s 7,500 domestic and 500 business customers. This follows an appointment process run by Ofgem to get the best deal possible for customers. All outstanding domestic customers’ credit balances, including money owed to both existing and former customers of Solarplicity, will also be honoured.…

Consumers struggling to make ends meet are being urged to avoid loan sharks at all costs as latest figures show debt advice enquiries have hit a record high. The Local Government Association (LGA), which represents councils in England and Wales, is urging people desperate for a loan to steer clear of illegal money lenders who…

Ofgem has confirmed that Solarplicity Supply, an energy supplier with around 7,500 domestic customers and less than 500 business customers, has ceased to trade. Under Ofgem’s safety net, the energy supply of Solarplicity’s customers will continue and prepayment meters can be topped up as normal. The outstanding credit balances of domestic customers will be protected.…

A new system designed to tackle fraud in online shopping has been delayed for 18 months. Banks and retailers had been expected to introduce a new layer of security from mid-September that would normally see a passcode sent to a customer’s mobile phone at the point of checkout for online purchases of £28 or more.…

Cardiff Energy Supply, a small supplier with approximately 800 domestic gas customers, will be ceasing to trade. Ofgem has appointed SSE as the supplier of last resort for these customers. Ofgem said in a news release that customers do not need to worry as they will continue to receive gas supplies as normal and credit…

The Competition and Markets Authority (CMA) has ordered Nationwide to refund £6 million to current account customers after it broke rules which state that people should receive a text alert before banks charge them for unarranged overdrafts. The CMA has told Nationwide to take immediate action and improve its practices and compliance with the instruction. The…

Energy regulator Ofgem has announced that the default price cap on energy bills is set to fall from £1,254 to £1,179 from 1st October for this winter period (October-March). The pre-payment meter cap will fall from £1,242 to £1,217 per year for the same six month period. As a result, energy bills will fall this winter…

The Treasury Committee has published a report on the Financial Conduct Authority’s (FCA) perimeter of regulation. The report draws upon the Treasury Committee’s ongoing scrutiny of the work of the Financial Conduct Authority (FCA) to make a series of recommendations to HM Treasury on the remit and powers of the FCA. One of the Committee’s…

Energy company, Solarplicity Utility Services has entered administration. Solarplicity Utility Services, as well as three subsidiary companies, is currently under administration this follows several winding-up petitions filed against the company by HMRC. Back in February Solarplicity was briefly banned by Ofgem from taking on new customers, until it made service improvements. Ofgem did not confirm that order, but…

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