The Financial Conduct Authority (FCA) has intervened to protect consumers by imposing restrictions on Ethica Resolve Limited's debt collection practices. This action was taken on November 5, 2026, and requires Ethica to clarify to affected consumers that they do not currently have an enforceable obligation to repay the loans.
The FCA's intervention relies on the authority's regulatory powers, specifically addressing the practices of Ethica Resolve Limited as it collects debts on behalf of West 28th Street Limited. West 28 is not authorized or regulated by the FCA.
The intervention applies to consumers who have received demands for repayment related to loans from disguised remuneration schemes. Ethica will not make further demands for payment during the resolution of regulatory and legal issues.
Ethica will also refrain from seeking default judgments against consumers who have not responded to legal claims. The FCA aims to protect consumers from undue pressure while the enforceability of these debts is determined by a court.