The following Financial Services practice note provides comprehensive and up to date legal information covering:
On 1 April 2014, the regulation of consumer credit firms came under the supervision of the Financial Conduct Authority (FCA). The rules concerning the regulation of consumer credit advertisements that were contained in the Consumer Credit Act 1974 (CCA 1974) were transferred into Chapter 3 of the FCA Consumer Credit Sourcebook (CONC 3) by virtue of the Consumer Credit (High-Level Standards and Interim Regime) Instrument 2013 (FCA 2013/68) (the Instrument) made by the FCA in exercise of its powers under the Financial Markets and Services Act 2000 (FSMA 2000).
As a result, the Consumer Credit (Advertisements) Regulations 2004 (SI 2004/1484) (Advertisement Regulations 2004) and the Consumer Credit (Advertisements) Regulations 2010 (SI 2010/1970) (Advertisement Regulations 2010) were revoked effective 1 April 2014. CONC 3 relates to financial promotions and communications with customers, so is wider in scope than both the Advertisement Regulations 2004 and 2010 as it applies to all promotions and communications with customers rather than limited to advertisements that fell under section 43 CCA 1974 (now repealed). At the same time, sections 43 to 47 of CCA 1974 concerning advertisements and seeking business were also repealed by the Financial Services and Markets Act (Regulated Activities) (Amendment) (No 2) Order 2013.
Section 21 of FSMA 2000 applies to all firms that advertise (ie promote) consumer credit products
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Voluntary manslaughterVoluntary manslaughter consists of those killings which would be murder (because the accused has the relevant mental element for murder) but which are reduced to manslaughter because of one of the three special defences (loss of control, diminished responsibility or suicide
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 guidance on the impact of Brexit on e-money requirements, see Practice Note: Impact of Brexit: Payment services and electronic money directives—quick
This Practice Note identifies the main torts (bar negligence and nuisance, which are covered elsewhere in our related content) and their key characteristics. Specifically:•trespass to land•trespass to the person•privacy/defamation•liability for animals•employers' liability•product
What is a third party debt order (TPDO)?Third party debt orders were previously known as 'garnishee' orders and operated under the regime provided for in CCR Ord 30 and RSC Ord 49 (now revoked). Although the rules in CPR 72 are new, many of the principles with which they are concerned are well
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