Who monitors the Code?
The Code is monitored by the Independent Compliance Assessment Panel (ICAP) who in turn are monitored by the Office of Fair Trading (OFT). ICAP use information from the Consumer Survey, compliance checks and consumer enquiries/complaints to monitor the effectiveness of the Code and individual subscribers’ performance. This includes providing quarterly reports and an annual report to the OFT and determining what, if any penalties, or sanctions should be taken against Subscribers who fail to correct a breach or who are seen to be in persistent, or serious breach of the Code. ICAP is independent of the sector.