The National Debt Counselling Association NDCA has proposed that South Africas debt counsellors must meet several new requirements aimed at enhancing standards in the sector.
The proposed rules will also prevent unregistered or unethical practitioners from posing as legitimate debt counsellors, the Association said in a statement on Wednesday 5 November.
NDCA takes aim at unethical debt counsellorsThe proposals will be based on the existing regulations in the National Credit Act. However, they will be enhanced by the provisions of the Conduct of Financial Institutions COFI Bill and the Treating Customers Fairly TCF principles.