Following on from last years furore when a FCA spokesman suggested that process serving should only be carried by an FCA licensed process server, the Government have at last taken steps to formally address the issue through legislative change.
Tremark were inundated with calls and emails last April when during a CSA conference a FCA representative stated that the FCA considered that the activity of process serving fell under the regulated activity of debt collection and anyone partaking in the serving of process related to FCA regulated debt was doing so outside of the law.
Talks between the FCA and the Association of British Investigators on behalf of the process serving industry led to some clarity been issued by the FCA last May. Please click here to read our previous article.
The formal legislative change’s were laid before parliament on the 25th February 2015 and are due to come into force on the 18th March 2015. They make additions to the section of the Act that deals with the exemption of ‘third party tracing agents’.