Consumer Credit FCA Publishes Final Detailed Rules 2014 March

The UK Treasury and Financial Conduct Authority (FCA) have been drip-feeding the industry rules and practical details of the transfer of consumer credit (CC) regulation to FCA. FCA has now published the final form of its detailed rules in its Consumer Credit Sourcebook (CONC), with feedback and practical advice. The rules apply from 1 April 2014 with limited grace periods only. It is critical that all firms carrying on credit-related regulated activities know what the changes mean for them.

FCA has published its feedback statement and final form rules on the detailed CC regulatory regime that takes effect from 1 April. The feedback covers several specific aspects of FCA's consultation on the rules, and highlights any substantial changes from FCA's original proposals.