Consumer credit

Draft statutory instruments on FCA consumer credit regulation published

The following consumer credit related draft statutory instruments have been published:

the Financial Services and Markets Act 2000 (Consumer Credit) (Designated Activities) Order 2014. This Order specifies the circumstances under which an authorised person will be guilty of a criminal offence if they carry carry on certain consumer credit regulated activities; and
the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2014 which specifies additional credit-related activities that should be treated as regulated activities for the purposes of the Financial Services and Markets Act 2000.

Both Orders have been laid before Parliament and must be approved by a resolution of each House of Parliament before they can be made.