The FCA has published a call for input on the planning phase of its review of the retained provisions of the Consumer Credit Act 1974 (CCA).
The FCA’s aim in conducting the review is to simplify the regime where possible and ensure an appropriate degree of consumer protection while not placing disproportionate burdens on the firms.
The FCA is seeking initial views from stakeholders on a number of key aspects, and in particular:
- whether it should prioritise particular provisions for review;
- timescales for the review, including whether it should consider particular provisions for earlier review; and
- the conduct of the review, including engagement with stakeholders.
Over the next few months, the FCA will consider all responses to this call for input, finalise the scope of the review, establish a consultative stakeholder group and publish an update on progress by Q4 2016.
The FCA is required to review remaining CCA provisions and to report to HM Treasury by 1 April 2019.
The FCA requests responses to the call for input by 18 May 2016.
View FCA call for input on review of restrained provisions of the Consumer Credit Act, 18 February 2016