Articles - OFT revokes licence following threatening communication


 The OFT today announced that it has revoked the licence of debt management company, Parkgate UK Limited, after it sent a threatening letter to a debt collection agency.

 The letter, sent on behalf of one of Parkgate's clients, included a threat of physical violence against the agent should they attempt to collect the client's debts.

 Parkgate apologised for its conduct and said that it did not intend to act on the threat, but the OFT has nonetheless concluded that the letter, combined with other failings to demonstrate the skills and knowledge required to run a consumer credit business, meant Parkgate was unfit to hold a licence. As a result, the licence was revoked.

 David Fisher, OFT Director of Consumer Credit, said:

 'Threatening behaviour is unacceptable. The letter Parkgate sent was inappropriate and called into question the company's fitness to hold a licence. We will not tolerate behaviour of this kind as it is a clear breach of the standards we expect from licensed businesses. We have therefore taken the decision to revoke its licence.'

Back to Index


Similar News to this Story

Oblivian Coalmine on pension funds fossil fuel industry ties
This new film from Make My Money Matter, starring the Academy Award winner Olivia Colman, highlights that £88 billion of UK pension savers money is in
Hopes and fears for pensions in 2024
Aon has set out its “hopes and fears” for pensions in 2024. After a year in which UK pension schemes digested the events of 2022 and adjusted themse
The lifetime pension model
In the Chancellor’s Autumn Statement Jeremy Hunt launched a call for evidence for a ‘pot for life’, also known as the lifetime pension model. As part

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.