One could be forgiven, amidst the noise and glamour of the Leeds Reforms and the Mansion House speech, for having missed the snappily titled Financial Services and Markets Act 2000 (Regulated Activities etc.) (Amendment)...more
7/23/2025
/ Buy Now Pay Later (BNPL) ,
Compliance ,
Consumer Protection Laws ,
Disclosure Requirements ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
FinTech ,
Lenders ,
New Regulations ,
Payment Systems ,
Proposed Rules ,
Regulatory Requirements
KEY POINTS -
- Virtual International Bank Account Numbers (vIBANs or virtual IBANs) are identifiers formally linked to a master bank account and informally associated with other accounts or relationships. They are...more
In an exciting week for consumer credit lawyers, in addition to the consultation paper on the reform of the Consumer Credit Act 1974 (CCA), we also have HM Treasury’s response to the feedback it received from the 61...more
KEY POINTS -
- On the face of it buy-now, pay-later (BNPL), as an interest and charge free credit facility, appears low risk but couple its ready availability with the fact that it comes without any of the protections...more
3/19/2025
/ Buy Now Pay Later (BNPL) ,
Compliance ,
Consumer Financial Products ,
Consumer Protection Laws ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
FinTech ,
FSMA ,
Lenders ,
Regulatory Agenda ,
Regulatory Reform ,
Regulatory Requirements ,
UK
The UK Government has announced the abolition of the Payment Systems Regulator (PSR), with a view to driving economic growth and reducing the burdens on business.
The practical impact on firms is yet to be seen, and the...more
It has been a long time in gestation but finally, over three and a half years after the Woolard Review highlighted the potential risks of unregulated, but easily available, interest free credit facilities, we have the...more