21 January 2014
New regulations proposed by the FCA should enhance protection for consumers and encourage fair dealing
In October 2013, the Government published a second consultation paper explaining how consumer credit licencing will transfer from the Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA). On 1 April 2014, organisations that want to continue with credit-related activities should have permission from the FCA to do so.
Companies currently regulated by the OFT have until 31 March 2014 to update their existing licence details and apply for an Interim Permission Licence at a...