On 20 December 2024, the House of Lords’ Financial Services Regulation Committee published a letter it had sent to the FCA’s Chief Executive, Nikhil Rathi, responding to his previous letter regarding motor finance commission.
The letter notes that the Committee is considering the implications of the recent decision to grant leave to appeal to the
On 19 December 2024, the Financial Conduct Authority (FCA) published Policy Statement 24/18 ‘Further temporary changes to handling rules for motor finance complaints’ (PS24/18). PS24/18 follows the FCA’s earlier consultation, CP24/22.
In PS24/18 the FCA publishes rules in the Dispute Resolution: Complaints (DISP) sourcebook of the FCA Handbook
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.
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
On 23 October 2024, the FCA published its findings following a multi-firm review (MFR) of the financial resilience of consumer credit firms and non-bank lenders.
The MFR was conducted during the second half of 2023 and the first half of 2024 and involved a sample of consumer credit firms and non-bank mortgage lenders.
On 17 October 2024, HM Treasury (HMT) issued a consultation paper which sets out the government’s approach to regulating buy now pay later (BNPL) in more detail. It also responds to the feedback that HMT received to its previous consultation that ran between February 2023 and April 2023. There has also
On 20 May 2024, the Financial Conduct Authority (FCA) published Principles for industry remedy development.
The FCA Credit Information Market Study Final Report set out that a new industry body, the Credit Reporting Governance Body (CRGB), should be established to oversee arrangements regarding the sharing of credit information. The Final
In the second in our series of Regulation Tomorrow Plus podcasts on the FCA’s intervention in the motor finance sector, we take a detailed look at the Financial Ombudsman Service (FOS)’s decisions upholding specific complaints in relation to historical discretionary commission arrangements. The decisions were one of the catalysts for the action the