On 4 August 2025, the Financial Conduct Authority published a letter that it had sent to claims management companies on financial promotions and motor finance claims.
FCA letter to CMCs on financial promotions and motor finance claims
Hopcraft: FCA to consult on a compensation scheme for motor finance customers
Following the Supreme Court’s judgment in Hopcraft the FCA issued a statement, on 3 August 2025, in which it confirms that it will consult on an industry-wide redress scheme to compensate motor finance customers who were treated unfairly.
The FCA will issue its consultation on the redress scheme by early October and for it
Supreme Court publishes its judgment in the Hopcraft case
Today marks a significant milestone for the motor finance sector as the Supreme Court has handed down its much-anticipated judgment in the Hopcraft case.
In a landmark decision, the Supreme Court has found that fiduciary duties are not to be found where the intermediary has an independent commercial interest. Whilst this decision will come as
SRA and FCA warn law firms and claims management companies over poor practices in motor finance commission claims
On 31 July 2025, the Solicitors Regulation Authority (SRA) issued a press release in which both it and the Financial Conduct Authority (FCA) warn law firms and claims management companies (CMCs) to make sure that they are complying with rules around how motor finance commission claims should be handled.
FCA CP25/23 ‘Deferred Payment Credit (unregulated Buy Now Pay Later): Proposed approach to regulation’
On 18 July 2025 the Financial Conduct Authority (FCA) published Consultation Paper CP25/23: Deferred Payment Credit (unregulated Buy Now Pay Later): Proposed approach to regulation (CP25/23).
Background
On 14 July 2025, the Government legislated to bring Deferred Payment Credit (DPC) lending under FCA regulation. DPC is a relatively new
BNPL – The Financial Services and Markets Act 2000 (Regulated Activities etc.) (Amendment) Order 2025
On 14 July 2025, there was made The Financial Services and Markets Act 2000 (Regulated Activities etc.) (Amendment) Order 2025. The statutory instrument will bring interest-free Buy-Now, Pay-Later (BNPL) agreements into regulation under the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (RAO). The statutory instrument also introduces
FCA Feedback to the IWG’s Final Report on CRGB
On 8 July 2025, the Financial Conduct Authority (FCA) published feedback to the Interim Working Group’s (IWG) Final Report which set out recommendations for the design and operations of the new governance framework of the credit information industry, the Credit Reporting Governance Body – CRGB.
In its feedback, the FCA supports
CCA reform briefing note
On 19 May 2025, HM Treasury issued a consultation on the first phase of its plans to update the Consumer Credit Act 1974.
We have published a new briefing note which looks at this consultation, its impact on firms and the proposed timeline for implementation.
HMT update on domestic premises suppliers and the new BNPL regime
On 16 June 2025, HM Treasury (HMT) issued an update on domestic premises suppliers and buy-now, pay-later (BNPL).
Background
In its consultation on the BNPL regime HMT proposed that domestic premises suppliers – businesses who sell, offer to sell or agree to sell goods or offer to supply or contract to
FCA’s potential consumer redress scheme for motor finance agreements
On 5 June 2025, the Financial Conduct Authority (FCA) published a statement setting out some of the things it will need to consider should it introduce a redress scheme as part of its review into motor finance commission arrangements.
The FCA states that whilst it is not possible to predict the outcome of