1. Introduction
Three claims by individuals against motor finance lenders have recently been upheld by the Court of Appeal which decided that they should receive refunds of commission payments that the lenders had made to the car dealers who were acting as intermediaries/ brokers in respect of the finance arrangements (interest was also awarded to
On 22 November 2024, the Packaged Retail and Insurance-based Investment Products (Retail Disclosure) (Amendment) Regulations 2024 came into force and were published on legislation.gov.uk, along with an explanatory memorandum.
The Regulations make transitional amendments in relation to cost disclosure requirements for listed closed-ended funds (more commonly referred to as investment trusts) to two pieces
On 21 November 2024, the Financial Conduct Authority (FCA) launched a consultation, CP24/22, on its proposal to make further temporary changes to how firms handle motor finance complaints where they involve a commission arrangement.
Background
In January 2024, the FCA introduced new rules for handling motor finance complaints where there was a discretionary
In this new edition of Regulation Around the World we review the UK Financial Conduct Authority’s (FCA) Consumer Duty (UK Consumer Duty) and see if other international financial services authorities have already got similar concepts in their frameworks; or whether the UK Consumer Duty not only sets a new UK standard
In the latest Global Regulation Tomorrow Plus episode, Matthew Gregory, Joe Bamford and Simon Lovegrove discuss some of the key issues concerning HM Treasury’s recent consultation on regulating the buy now pay later sector.
Listen to the podcast here.
On 7 November 2024, the Financial Conduct Authority (FCA) published a policy statement, PS24/15, setting out the regulatory framework for firms that operate pensions dashboard services.
Key takeaways
The FCA has published its final rules and guidance for firms operating a pensions dashboard service (or ‘PDS’) in the future. Presently
Introduction
On the 7 October, 2024 the Payment Systems Regulator (the ‘PSR’) landmark reform to tackle authorised push payment (‘APP’) fraud came into force.
Whilst some of the uncertainty surrounding scope of application of the measures has begun to settle, many will now be questioning what role the FOS will play in relation to related
Introduction
On 17 October 2024, HM Treasury (HMT) issued a consultation paper (CP) which sets out the government’s approach to regulating buy now pay later (BNPL). This CP builds on HMT’s previous consultations that ran between February 2023 and April 2023.
HMT’s latest CP is accompanied by a draft
The FCA has issued a short statement following the Court of Appeal judgment in certain cases concerning motor finance commission.
The FCA states that it is carefully considering the decision.
In September, the FCA extended its pause to the time firms have to provide a final response to customers about motor finance complaints involving a