Financial services firms and the Consumer Rights Act 2015
Produced in partnership with Noel Dilworth and Lucy McCormick of Henderson Chambers

The following Financial Services practice note produced in partnership with Noel Dilworth and Lucy McCormick of Henderson Chambers provides comprehensive and up to date legal information covering:

  • Financial services firms and the Consumer Rights Act 2015
  • What is the Consumer Rights Act 2015?
  • Scope of the CRA 2015 and financial services firms
  • Pre-contract information
  • Remedies under the CRA 2015
  • Deductions for depreciation
  • Implied terms under the CRA 2015
  • Defective digital products
  • What is digital content?
  • What is the consumer entitled to expect from digital content?
  • More...

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 UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see: Brexit and financial services: materials on the post-Brexit UK/EU regulatory regime.

What is the Consumer Rights Act 2015?

The Consumer Rights Act 2015 (CRA 2015) was a landmark in the field of consumer law and took effect from 1 October 2015 under the Consumer Rights Act 2015 (Commencement No 3, Transitional Provisions, Savings and Consequential Amendments) Order 2015, SI 2015/1630. While the majority of the CRA 2015 consolidated existing legislation, there were a number of innovations, which changed the dynamics of the relationship between industry and consumers (for a list of legislation amended or replaced by the CRA 2015, see Practice Note: Consumer Rights Act 2015—summary). The CRA 2015 broadly sets out:

  1. rights and remedies for supplies of goods

  2. rights and remedies for digital content

  3. rights and remedies for supplies of services

  4. unfair terms

  5. consumer law enforcement powers reform

  6. civil remedies

  7. consumer collective actions for anti-competitive behaviour

  8. new duties for letting agents

  9. new rules on secondary ticketing

Scope of

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