FCA online guidance aims to clarify the scope of the consumer credit regulatory regimes

The Financial Conduct Authority (FCA) has recently sought to clarify the imminent changes to the regulatory regime governing consumer credit by launching a series of webpages highlighting the similarities and differences between the FCA regime and that currently operated by the Office of Fair Trading (OFT).

While the full transfer of jurisdiction is expected to take place by March 2014, the FCA will only take over the OFT’s current responsibilities for the regulation of consumer credit from April 2014. After this date, the following activities will fall under FCA supervision: lending or brokering credit, whether or not secured on land; being a credit reference agency or providing credit information services; debt collection and debt administration services; and carrying out activities in relation to contracts for the hire of goods.

The online guidance aims to provide clarity regarding some of the key features of the new regime, which is intended to make regulation simpler for both firms and consumers…

If you are registered and logged in to the site, click on the link below to read the rest of the Walker Morris briefing. If not, please register or sign in with your details below.

Sign in or Register to continue reading this article

Sign in

Register

It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer

 

Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.

 

Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.

 

Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.

Briefings from Walker Morris

View more briefings from Walker Morris

Analysis from The Lawyer

View more analysis from The Lawyer

Overview

Kings Court
12 King Street
Leeds
LS1 2HL
UK
http://www.walkermorris.co.uk

Turnover (£m): 42.50
No. of lawyers: 188