Changes to OFT consumer credit licence fees 
OFT has announced that fees for consumer credit licences will rise from 11 April 2011.
The OFT has a responsibility to scrutinise all licence applications to ensure applicants are ‘fit’ to hold a licence, which includes assessing competence.
Where businesses wish to engage in activities of high risk to consumers, such as debt counselling and secured sub-prime lending, the level of scrutiny is increased. Assessment can include site visits, staff interviews and compliance reviews.
If businesses are found to be unfit or to engage in unsatisfactory practices, the OFT will refuse or revoke licences, or impose formal requirements.The OFT actively monitors the credit market and takes a wide range of enforcement actions.
The costs of these functions must be met by licence fee income.
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Good info and writeup by the way.
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