There is a FCA roadshow webinar featuring a question and answer session on its consultation paper, CP15/6: Consumer credit – proposed changes to our rules and guidance.
This is a one hour session with the main topic areas including credit broking, web domain names, guarantor lending and peer to peer lending.
For general information, or if you are active in any of the above areas, you can sign up to listen to the webcast here.
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It is more than a year since the FCA took over consumer credit authorisation and it is clear they are open-minded about their future approach to supervision, be it either the current principle based or a more prescriptive approach.
As you may be aware the regulation of consumer credit will move from the Office of Fair Trading (OFT) to the FCA on 01 April 2014. Find out what you need to do here.
There is a Government e-petition here which aims to increase the protection afforded to Financial Advisers by removing the Ombudsman’s right to consider a claim without any long-stop restriction and without applying the Limitation Act 1980.
RDR requires advice to be free from bias, clearly explained and transparently charged. The FCA is currently conducting a three-stage thematic review and the first part of that review has raised a number of concerns.
Currently, this is one of the questions we are most often asked.
The trouble is, there are different sources of opinion. At the end of the day, we believe that it is the FCA’s opinion that counts and this is what they say.
New Capital Resource Requirements – ATEB’s Final Warning!
Steve Bailey Compliance 2014, 2015, Mortgage, PI
We thought it would be prudent to send one final reminder regarding the change to the Capital Resource Requirements that come into force 31/12/13.