CONC 3.4 Risk warning for high-cost short-term credit
[Note: Until the end of 30 June 2014, transitional provisions apply to CONC 3.4: see CONC TP 31]
Risk warnings
- (1)
A firm must not communicate or approve for communication a financial promotion in relation to high-cost short-term credit, unless it contains the following risk warning:
“Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk”.
- (2)
The risk warning in (1) must be included in a financial promotion contained in an electronic communication unless by reason of the limited space available on the medium in question it is not reasonably practicable to include the warning.
- (3)
Instead of the website address in paragraph (1), a firm may include the Money Advice Service’s logo registered community trade mark number EU009695909.
- (4)
The risk warning must be included in a financial promotion in a prominent way.
The Money Advice Service has granted a licence to use the logo referred to in CONC 3.4.1R (3) for the purposes of that rule.1 The terms of the licence are available from the Money Advice Service.
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