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ARTICLE · 28 JULY 2014

Consumer Credit Regulation: Keeping Pace With Permissions

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With consumer credit regulation now firmly in the FCA’s hands, all affected firms should be checking whether they have met the deadlines imposed so far.

United KingdomFinance and Banking
Andrew Barber
Andrew Barber
Emma Radmore
Emma Radmore
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With consumer credit regulation now firmly in the Financial Conduct Authority's hands, all affected firms should be checking whether they have met the deadlines imposed so far. If not, they have urgent decisions to make. If so, they must prepare for the next stage: the full authorisation application. Andrew Barber and Emma Radmore outline what firms should have done already and the next steps.

Did you register for interim permission?

All firms that held an Office of Fair Trading (OFT) licence for consumer credit and related activities that previously fell under the Consumer Credit Act 1974 (CCA) needed to ensure they held interim permission from the FCA to carry on those activities from 1 April 2014. This entailed:

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