Faith Financial Solutions have applied to the FCA for the following requirements to be imposed on its permissions as of 1st July 2021:-
1. We will not, without the consent of the FCA, take on any new customers where this involves debt counselling or an activity that would be debt counselling if carried on in the relation to a debt under a credit agreement or consumer hire agreement.

2. We will not, without the consent of the FCA, take on any new customers where this involves debt adjusting or an activity that would be debt adjusting if carried on in the relation to a debt under a credit agreement or consumer hire agreement.

3. We have instructed our existing customers (who have not received a recommended course of action from the Firm) to contact a not-for-profit debt advice body to seek alternative advice.

4. We will continue to support any customers with the provision of general administrative support only.

5. We have notified the insolvency practitioners we refer customers to of the terms and effect of the voluntary requirement.
6. We will take down any information on websites registered to or linked with our business which state or indicate the provision of services relating to debt counselling and debt adjusting or activities that would be debt counselling or debt adjusting if carried on in relation to a credit agreement or a consumer hire agreement, with immediate effect. In addition, we will display, in a prominent place on all our websites and any other electronic communication channels, such as social media, a notice setting out the terms and effect of the voluntary requirement.
7. We will stop using lead generators for the purposes of obtaining leads for customers in relation to the activities described in Requirement 1 and 2 above.
8. We have provided written confirmation to the FCA that we are in compliance with the requirements above.
9. The Requirements will stay in effect until the FCA is satisfied that they can be lifted.