All change for consumer credit
The Consumer Credit Act has been on the statute book for almost exactly 40 years. At midnight on 31 March 2014, it encountered the most significant set of changes that have occurred during its lifetime.
On 1 April, supervision of consumer credit moved to the Financial Conduct Authority (FCA). It is fair to say that the transition was made with indecent haste, and the industry as a whole (together, one would suspect, with its new regulators) is now trying to get to grips with what has happened.
Regulation is moving from the statute-based system with which we are familiar to a handbook system. With it, the whole philosophy of regulation has changed. Firms will need to take this on board as it represents a sea-change in how they will have to think and deal with their customers…
Click on the link below to read the rest of the Gateley briefing.
News from Gateley
News from The Lawyer
Briefings from Gateley
It would appear from this High Court decision that the courts may in future direct parties involved in neighbourhood disputes to try to engage in mediation.
Restrictive covenants: ‘fixing’ the drafting, or a bad bargain, where will the courts draw the line?
In a recent case (Prophet plc v Huggett), the Court of Appeal considered where the line must be drawn in terms of the courts’ ability to be pragmatic.
Analysis from The Lawyer
The Law Society recently published guidance to assist solicitors draw up Shariah-compliant wills, causing outrage in some quarters. Gateley’s Haroon Rashid explains the facts.