CAR PPI

keelyjagger

Hello everyone.  I have just attempted to do the PPI one for the cars as I had a loan out in Jersey.  To complain it advises on the Jersey website to complain to Close Brothers UK now this is the response I have been given.
Thank you for your recent contact. We've reviewed your complaint and have completed our investigations. Along with this letter, we've also shared our Internal Complaints Handling Procedure for your information. You can find out more at closefinanceci.com/complaints/ In your email received 11thDecember 2024, you reference the Financial Conduct Authority in the UK, and domestic UK legislation. Please note that Close Finance (CI) Limited is incorporated in Jersey and operates in both Jersey and Guernsey. This means the Financial Conduct Authority has no authority in Jersey, and the domestic UK legislation you mention doesn't apply in Jersey. With regards to the two requests in your email, we'd respond to these as follows:
1. Your first point is noted as a request for information. Please be aware that any commission arrangement between us and our partners is a commercial agreement and we would not disclose any commercially sensitive information. If you would like us to provide you with any of your personal data, you will need to provide us with a copy of your passport and proof of current address. You can bring these into our office at any point where we can certify an original copy. PERSONAL LOANS I MOTOR FINANCE I ASSET FINANCE I BUSINESS FUNDING Jersey Conway House, Conway Street, St Helier, Jersey JE4 5SR Guernsey Bucktrout House, Glategny Esplanade, St Peter Port, Guernsey, GY1 1 WR E enqulries®closefinanceci.comW www.closefinanceci.com T (01534) 737341 T (01481) 740240 Socialise with us f y in MD615-V1 Jul 2024 Close Finance Is a registered business name of Close Finance (CI) Limited, which Is a part of Close Brothers Group PLC. Subscriber In Jersey to the Code of Practice for Consumer Lending - sponsored by the Jersey Consumer Council. Licensed In Guernsey with the Guernsey Financial Services Commission pursuant to part 11 of the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022. n Close Finance Your financial friends
2. Your second point indicates that you have a complaint in relation to commission. Unlike in the UK, your Jersey credit agreement is not regulated which means there are no rules around the types of commission that may be paid, as a result we have considered your complaint to be not upheld and no further action will be taken. Hopefully this has explained our position on the Financial Conduct Authority's review, and we won't be responding to any other points in your email. We've logged and closed this matter and this is our Final Response in respect of your complaint. If you're unsatisfied with our final response, you can refer your complaint to the Channel Islands Financial Ombudsman (CIFO). You'll need to contact CIFO about your complaint no later than 12thJune 2025 or CIFO may not be able to review your complaint. You must also contact CIFO within six years of the event complained about, or if later, two years of when you could reasonably have been expected to become aware that you had a reason to complain. You can contact CIFO at: Channel Islands Financial Ombudsman (CIFO) P0 Box 114 Jersey, Channel Islands JE4 9QG

DullGreyGuy

So this isn't PPI at all but DCA? 

They are correct, Jersey is not part of the UK and as such isnt covered by the FCA or its investigation. They have their own regulator, laws and ombudsman. Whilst they are broadly aligned to the UK they are far from identical and do choose to differ in several ways. You'll find a notable number of companies choose to be based in Bailiwick of Guernsey, Bailiwick of Jersey, Isle of Man and Gibraltar as their regulatory framework is lighter.

Not sure what your question is though? 

dunstonh

I assume you mean DCA rather than PPI.

Their response is correct.  Jersey is not subject to FCA regulation as its not in the UK.     So making a complaint to an overseas jurisdiction for an issue that is UK specific isn't going to work.

Ayr_Rage

1. It's not PPI but discretionary commission.

2. Your agreement in Jersey is not covered by the FCA in the UK.

3. It seems obvious that CIFO is not interested as the credit agreement was unregulated, so time to move on.

keelyjagger

DullGreyGuy said:

So this isn't PPI at all but DCA? 

They are correct, Jersey is not part of the UK and as such isnt covered by the FCA or its investigation. They have their own regulator, laws and ombudsman. Whilst they are broadly aligned to the UK they are far from identical and do choose to differ in several ways. You'll find a notable number of companies choose to be based in Bailiwick of Guernsey, Bailiwick of Jersey, Isle of Man and Gibraltar as their regulatory framework is lighter.

Not sure what your question is though? 

apologies i did mean DCA just couldn't remember what it was called.  I had a fight a few years back with regard to PPI because it was Jersey but did manage to win so didn't know if this was going to be the same fight.