Governance of the CFS

• Introduction to the CFS
• Trigger figures
• Budgeting issues
• Licencing
• Using the CFS
• Governance of the CFS
• Schemes, guidance & codes
• Training
• Technical issues

This section covers who sponsors the CFS and how the development of the tool is governed.

• Q:Who sponsors the CFS?

  A:

  The first CFS was published by the British Bankers’ Association (BBA) and Money Advice Trust (MAT) in November 2002. In April 2004, the Finance & Leasing Association (FLA) became the third sponsor.

• Q:What is the Client Support Steering Group and who are its members?

  A:

  The Client Support Steering Group brings together key stakeholders who use the CFS or have an interest in the development of the CFS tool.

  The steering group is tasked with:

  • Advising the CFS sponsors on suitable development of the CFS tool;
  • Completing specific actions and where appropriate championing implementation within the sectors they represent; and
  • Monitoring the use of the CFS tool and the impact within their relative sectors.

• Q:What is the Money Advice Trust?

  A:

  The Money Advice Trust is a charity formed in 1991. It is authorised and regulated by the Financial Conduct Authority.

  The Money Advice Trust provides free, independent and confidential debt advice through National Debtline, Business Debtline and online through My Money Steps. It supports advisers across the free debt advice sector through Wiseradviser training and works to influence policy-makers and promote best practice across the advice sector, credit industry and government.
  
  For more details visit the Money Advice Trust website.

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