The following Financial Services practice note provides comprehensive and up to date legal information covering:
This Practice Note sets out and examines the consumer credit regulated activities in the Financial Services and Markets 2000 (Regulated Activities) Order 2001, SI 2001/544 (RAO), the requirements for firms performing consumer credit regulated activities, and the consequences of not being adequately authorised by the Financial Conduct Authority (FCA) when carrying out these regulated activities.
On 1 April 2014, the FCA assumed responsibility from the Office of Fair Trading (OFT) for the regulation of consumer credit. This resulted in all firms licensed by the OFT entering into a new regulatory regime through which they were required to become authorised by the FCA or, if they were already authorised, to vary their existing permission to cover the consumer credit permissions. OFT license that were in place on 1 April 2014 subsequently lapsed, and all firms were required to apply to the FCA to obtain 'interim permission' or, if they were already FCA authorised, an 'interim variation of permission' until an application for full FCA authorisation or a variation of an existing permission could be made. Firms had until October 2016 to obtain full permission.
From 1 April 2014, the sections of the Consumer Credit Act 1974 (CCA 1974) that previously set out the activities that require an OFT licence were repealed and the requirement to be regulated for consumer credit regulated activities
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This Practice Note considers the nature and scope of arbitration agreements with a particular focus on arbitration agreements pursuant to the law of England and Wales, although it also discusses the concept from an international perspective and includes some comparative examples from other
The offence of causing grievous bodily harm with intentWounding or causing grievous bodily harm (GBH) with intent is triable only in the Crown Court on indictment. Elements of the offence Under the Offences against the Person Act 1861 (OATPA 1861), the prosecution must prove the defendant unlawfully
A certificate of title (also known as a certificate on title) is a particular species of report on title.When solicitors are instructed to investigate title to land (for instance, when land is being acquired or offered up as security), they will write a report on title for their client, which sets
Background to the Single RulebookHistorically, the European Commission (Commission) favours using Directives (rather than Regulations) to set out its legislation in respect of the financial services sector. However, Directives, allowing Member States greater flexibility in how they implement
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