The judgment brings clarity regarding the fiduciary duty and unfair relationships. The consumer finance sector now awaits the FCA’s plans for a new redress scheme covering commission arrangements....more
8/5/2025
/ Car Dealerships ,
Consumer Financial Products ,
Consumer Lenders ,
Consumer Protection Laws ,
Fiduciary Duty ,
Financial Conduct Authority (FCA) ,
Lenders ,
Loans ,
UK ,
UK Supreme Court ,
Unfair or Deceptive Trade Practices
On 19 May 2025, HM Treasury published its consultation response on the regulation of certain buy-now-pay-later (BNPL) products, setting out its final position, and laid a draft statutory instrument before Parliament to effect...more
FCA outlines its priorities and areas in which it plans to reduce the regulatory burden for firms. On 25 March 2025, the FCA published its five-year strategy (Strategy), alongside the outcome of its review of retail conduct...more
3/26/2025
/ Consumer Financial Contracts ,
Consumer Financial Products ,
Disclosure Requirements ,
Enforcement Priorities ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
FinTech ,
Information Reports ,
Mortgages ,
Regulatory Agenda ,
Regulatory Burden ,
Risk Management ,
UK
The regulator found many examples of good practice, but also published further guidance and case studies to help firms address areas for improvement....more
The OCC outlines safety and soundness principles and appropriate risk management processes for its regulated institutions that engage in BNPL lending.
On December 6, 2023, the Office of the Comptroller of the Currency...more
The changes will significantly modernise the regime and enhance consumer protections.
The EU has adopted a new Consumer Credit Directive, known as CCD2, which repeals and replaces the existing EU consumer credit regime...more
The FCA has published the findings from its review of firms’ fair value assessment frameworks and set out implementation priorities for firms.
On 10 May 2023, the FCA published a speech by Sheldon Mills, FCA Executive...more
The Consumer Duty applies to firms that materially influence consumer outcomes.
The Consumer Duty (Duty) (as set out in the FCA’s Policy Statement PS22/9 and guidance document FG22/5) will come into force at the end of...more
Consumer-facing companies face an increasingly complex UK regulatory landscape as multiple regulators place the spotlight on consumer rights and protections. A raft of new legislation is set to impact businesses and PE...more
4/5/2023
/ Buy Now Pay Later (BNPL) ,
Compliance ,
Consumer Contracts ,
Consumer Credit Protection ,
Consumer Financial Products ,
Financial Conduct Authority (FCA) ,
New Legislation ,
Portfolio Companies ,
Private Equity ,
Retail Investors ,
Sponsors ,
UK
A consultation that will remain open until 11 April 2023 offers further clarity on the proposals to regulate buy-now-pay-later products.
On 14 February 2023, HM Treasury published its consultation and accompanying draft...more
The FCA has reviewed firms’ progress to embed the Duty into their businesses, providing good and poor practice examples for firms to improve and direct their implementation work.
The Consumer Duty (Duty) rules (as set...more
This update takes a look at the FCA’s Interim Report and its initial views relating to the review of the provisions of the Consumer Credit Act 1974 (CCA), which show early signs of a more pragmatic approach to regulation than...more
8/14/2018
/ Consumer Financial Contracts ,
Consumer Financial Products ,
Consumer Lenders ,
Consumer Protection Laws ,
Credit Reporting Agencies ,
Credit Reports ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
FSMA ,
HM Treasury ,
Payment Systems ,
UK ,
UK Brexit