kenhetherington
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For those of you who are thinking of taking training courses to teach you how to trade, it is worth noting that there are now new regulations in force which strengthen the protection against those individuals or companies who sell services by unfair means. I shall name no names, but such training companies exist who can, on the basis of dubious claims, tempt people into courses on trading, without a realistic understanding of what results they ultimately can expect. So, if it seems too good to be true it probably is.
The regulations are summarised at:
The Consumer Protection from Unfair Trading Regulations 2008
and the following is a brief description from the press of what the purpose is of the new regulations:
The biggest overhaul in consumer protection laws for 40 years came into force yesterday to protect the public from rogue traders.
From now on all businesses - from fairground fortune tellers to double-glazing salesmen - are under a legal duty not to trade unfairly.
The regulations ban the use of misleading statements, fake credentials and aggressive sales practices.
Getting tough: Fortune-tellers are opposing the new rules as they will have to tell customers they are 'entertainment only' and their work is not 'experimentally proven'
For example, door-to-door salesmen will have to be careful not to be too persistent. If they continue in their pitch after a customer says no they could be committing an offence and be at risk of up to two years in prison.
And astrologers, mediums and fortunetellers will no longer be able to claim their services are "experimentally proven".
If they make any claim at all, they will have to say their services are for "entertainment only".
The Consumer Protection Regulations ban 31 types of unfair sales practices outright and tighten controls on all traders.
Among the tactics that are now illegal are bogus closing-down sales and limited time offers that tempt the consumer to spend but are later extended.
Also banned are false testimonials, often found on websites, from "customers" giving favourable reviews of products, holidays or shows.
The rules will be enforced by the Office of Fair Trading and Trading Standards that might in the past have escaped legal censure.
Another common practice to be banned is "bait and switch".
The tactic, often employed by electrical retailers, sees a low-price product advertised when it is not available.
When the customer asks about the offer he or she is directed to a higher price product instead.
Andy Millmore, a partner at London law firm Harbottle and Lewis, said: "What is significant is the sweeping nature of the regulations, effectively criminalising.
"What the regulations are designed to do is make sure that any commercial practice that looks unfair and likely to harm consumers in their pockets will be illegal.
"It will therefore be picking up the gaps and grey areas that existed under previous legislation.
"For instance, if my aged grandmother lets in a double-glazing seller and he presses to make a sale, preying on the fact that she's too polite to ask him to leave, that would now probably constitute an aggressive practice and be criminalised."
National Consumer Council spokesman Carl Belgrove said: "These new laws represent a big boost to consumer protection.
"The one thing missing is a way for consumers to claim compensation when businesses act unfairly and we hope that will be remedied soon."
The regulations are summarised at:
The Consumer Protection from Unfair Trading Regulations 2008
and the following is a brief description from the press of what the purpose is of the new regulations:
The biggest overhaul in consumer protection laws for 40 years came into force yesterday to protect the public from rogue traders.
From now on all businesses - from fairground fortune tellers to double-glazing salesmen - are under a legal duty not to trade unfairly.
The regulations ban the use of misleading statements, fake credentials and aggressive sales practices.
Getting tough: Fortune-tellers are opposing the new rules as they will have to tell customers they are 'entertainment only' and their work is not 'experimentally proven'
For example, door-to-door salesmen will have to be careful not to be too persistent. If they continue in their pitch after a customer says no they could be committing an offence and be at risk of up to two years in prison.
And astrologers, mediums and fortunetellers will no longer be able to claim their services are "experimentally proven".
If they make any claim at all, they will have to say their services are for "entertainment only".
The Consumer Protection Regulations ban 31 types of unfair sales practices outright and tighten controls on all traders.
Among the tactics that are now illegal are bogus closing-down sales and limited time offers that tempt the consumer to spend but are later extended.
Also banned are false testimonials, often found on websites, from "customers" giving favourable reviews of products, holidays or shows.
The rules will be enforced by the Office of Fair Trading and Trading Standards that might in the past have escaped legal censure.
Another common practice to be banned is "bait and switch".
The tactic, often employed by electrical retailers, sees a low-price product advertised when it is not available.
When the customer asks about the offer he or she is directed to a higher price product instead.
Andy Millmore, a partner at London law firm Harbottle and Lewis, said: "What is significant is the sweeping nature of the regulations, effectively criminalising.
"What the regulations are designed to do is make sure that any commercial practice that looks unfair and likely to harm consumers in their pockets will be illegal.
"It will therefore be picking up the gaps and grey areas that existed under previous legislation.
"For instance, if my aged grandmother lets in a double-glazing seller and he presses to make a sale, preying on the fact that she's too polite to ask him to leave, that would now probably constitute an aggressive practice and be criminalised."
National Consumer Council spokesman Carl Belgrove said: "These new laws represent a big boost to consumer protection.
"The one thing missing is a way for consumers to claim compensation when businesses act unfairly and we hope that will be remedied soon."
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Sorry to go slightly off topic Ken, but I thought it was an important point to make.
