Q&As

Does an agreement involving the supply of credit to sole traders and small partnerships fall within the requirements for regulation of consumer credit?

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Published on LexisPSL on 09/11/2016

The following Financial Services Q&A provides comprehensive and up to date legal information covering:

  • Does an agreement involving the supply of credit to sole traders and small partnerships fall within the requirements for regulation of consumer credit?
  • The regulation of consumer credit
  • Regulated activities and consumer credit agreements
  • The business test
  • Exempt agreements under the RAO

Does an agreement involving the supply of credit to sole traders and small partnerships fall within the requirements for regulation of consumer credit?

The regulation of consumer credit

The regulation of consumer credit sits with the Financial Conduct Authority (FCA). Parts of the Consumer Credit Act 1974 (CCA 1974) were repealed from 1 April 2014 with regulated activities coming under the Financial Services and Markets Act 2000 (FSMA 2000) and the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, SI 2001/544 (RAO 2001).

Regulated activities and consumer

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