Consumer credit regime

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Retained EU law—a guide for the perplexed

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Brexit SI Bulletin—latest drafts and sifting committee reports, 15 January 2021

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Comment—Brexit finance equivalence still achievable as eyes turn to administrative co-operation

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The roles of nominated officer and money laundering reporting officerA nominated officer is an individual who is nominated by a firm to receive...

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BREXIT: UK is leaving EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For further...

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Background to the Single RulebookHistorically, the European Commission (Commission) favours using Directives (rather than Regulations) to set out its...

Non-UCITS retail schemes (NURS)

BREXIT: As of exit day (31 January 2020), the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...

Practice notes

Regulatory capital—purpose, quantity and quality

Brexit; As of exit day (31 January 2020), the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...

Produced in partnership with Morrison & Foerster LLP 12th Jan

Practice notes

Public censure by the FCA

Disciplinary powers of the FCAThe disciplinary powers of the Financial Conduct Authority (FCA) are found in Part XIV of the Financial Services and...

9th Nov

Practice notes

Application of the FCA's COBS 4 rules

Chapter 4 of the Financial Conduct Authority's (FCA) Conduct of Business sourcebook (COBS 4) contains the conduct of business requirements for...

9th Nov

Practice notes

Basel Accord

The Basel Committee on Banking Supervision (BCBS), consisting of the central banks of governors of the so-called G10 countries (Belgium, Canada,...

Produced in partnership with Morrison & Foerster LLP 12th Jan

Practice notes

Financial Conduct Authority—objectives and principles

The role of the FCAThe Financial Conduct Authority (FCA) forms part of the regulatory structure for financial services firms. The FCA has a...

9th Nov

Practice notes

Consumer protection—FCA and other regulatory requirements

This Practice Note looks at key aspects of consumer protection within the UK financial services regulatory system. The UK’s regulatory structure,...

9th Nov

Practice notes

Fair and Effective Markets Review (FEMR)—one minute guide

On 10 June 2015, the Fair and Effective Markets Review (FEMR) published its final report. Running to 106 pages, the report covers a wide range of...

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Practice notes

MLD4—key provisions for financial services firms—one minute guide

Brexit: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...

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Practice notes

European Venture Capital Funds (EuVECA) Regulation

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9th Nov

Practice notes

Entering into a consumer hire agreement as owner

BREXIT: The UK is leaving EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. To ensure...

9th Nov

Practice notes

Authorised unit trust authorisation and winding-up

Authorisation of an authorised unit trust (AUT)What is an AUT?A unit trust is a type of collective investment scheme (CIS) in which the assets are...

9th Nov

Practice notes

Debt sale and purchase agreements

The debt sale and purchase market in the UKThe debt sale and purchase market has for some time been very active throughout the UK. It is an important...

9th Nov

In-house

Practice notes

Second Wire Transfer Regulation (WTR2)—essentials

Brexit: As of exit day (31 January 2020), the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...

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Practice notes

The impact of Brexit on the MiFID II regime

This Practice Note provides information relating to the impact of Brexit on the recast Markets in Financial Instruments Directive (Directive...

9th Nov

Brexit

Practice notes

Impact of Brexit: Solvency II—quick guide

This Solvency II quick guide details current UK legislation and retained EU legislation in relation to prudential insurance requirements that will be...

9th Nov

Brexit

Practice notes

What is credit and what is a regulated consumer credit agreement?

Scope of this Practice NoteThere are several factors to consider when deciding whether or not a credit agreement is regulated under the regulatory...

9th Nov

Most recent Consumer credit regime content

Practice notes

Overview of the UK and EU anti-money laundering and counter-terrorist financing regulatory regimes

This Practice Note provides a guide to the elements of the European and UK anti-money laundering (AML) and counter-terrorist financing (CTF)...

18th Jan

Practice notes

Regulated activities relating to consumer credit

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...

17th Jan

In-house

Practice notes

Passporting and consumer credit

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...

Produced in partnership with Jacqui Hatfield of Orrick, Herrington & Sutcliffe 17th Jan

Practice notes

FCA: Embedding TCF in the culture of a firm

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...

17th Jan

Practice notes

Entering into regulated credit agreements as lender

BREXIT: The UK is leaving EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For...

17th Jan

Practice notes

FCA authorisation rules relating to consumer credit firms

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...

Produced in partnership with Jacqui Hatfield of Orrick, Herrington & Sutcliffe 17th Jan

Practice notes

Overview of UK implementation of the Consumer Credit Directive

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...

Produced in partnership with Sam Millar of DLA Piper and Tony Katz of DLA Piper 17th Jan

Practice notes

Regulated activities relating to the provision of credit information services and credit references

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...

Produced in partnership with Jacqui Hatfield of Orrick, Herrington & Sutcliffe 17th Jan

Practice notes

Regulated activities for debt management firms and not-for-profit bodies

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...

Produced in partnership with Jacqui Hatfield of Orrick, Herrington & Sutcliffe 17th Jan

Practice notes

The regulation of high-cost short-term credit

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...

17th Jan

Practice notes

Exempt consumer credit agreements under the FSMA 2000 (Regulated Activities) Order 2001

This Practice Note seeks to explain the types of agreements which will be exempt agreements under the FCA consumer credit regimes. Entering into these...

Produced in partnership with Rebecca Kellner of Orrick, Herrington & Sutcliffe and Jacqui Hatfield of Orrick, Herrington & Sutcliffe 17th Jan

Practice notes

Systems and controls to prevent money laundering and counter terrorist financing

The requirements to have robust systems and controls in a regulated firm to prevent money laundering originate from:•the Money Laundering, Terrorist...

17th Jan

Practice notes

Regulatory reporting requirements for consumer credit firms

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...

17th Jan

Practice notes

Entering into a consumer hire agreement as owner

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...

17th Jan

Practice notes

What is credit and what is a regulated consumer credit agreement?

Scope of this Practice NoteThere are several factors to consider when deciding whether or not a credit agreement is regulated under the regulatory...

17th Jan

Practice notes

Consumer protection—FCA and other regulatory requirements

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...

17th Jan

Practice notes

Financial services firms and the Consumer Rights Act 2015

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...

Produced in partnership with Noel Dilworth and Lucy McCormick of Henderson Chambers 17th Jan

Practice notes

Regulated activities—credit broker

Credit brokerage under the consumer credit regimeSince April 2014, the regulation of consumer credit in the UK has been overseen by the Financial...

Produced in partnership with Jacqui Hatfield of Orrick, Herrington & Sutcliffe 17th Jan

In-house

Practice notes

Green Deal—finance

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15th Jan

Practice notes

Green Deal—marketing

The Green DealThe Green Deal is a scheme, originally designed by the government, now backed by private investors, that enables landlords and tenants...

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