Consultation on loan laws
A LACK of lending and credit regulation in the island is just one of the issues a public consultation hopes to address.
A final call for respondents has been made ahead of its Monday closing date.
The demand for regulation in this area was endorsed in 2015 following the release of a strategic report by PwC, which recommended a revision of the Non-Regulated Financial Services Business Law, allowing for the introduction of commercial lending regulation.
Fiduciary Supervision Policy & Innovations director Gillian Browning said the discussion paper, launched by the Guernsey Financial Services Commission, aimed to engage consumers and industry on how to grow the Bailiwick economy while protecting the interests of the consumer.
Citizens Advice Guernsey manager Kate Raleigh, pictured, who said the Bureau dealt with around 1,700 enquiries on debt and money issues every year, said it was important to gain 'a balanced view of the needs and concerns'.
