A monthly summary of regulatory developments in the UK. A pdf version and copies of the weekly update can also be found here.
Summary Headlines and Activity
Summary Headlines and Activity
Financial Conduct Authority (FCA): Introduced new consumer credit regulatory returns (Policy Statement PS25/3) to streamline data collection from credit brokers, debt counsellors, and debt adjusters. The return replaces two existing reports (with four more to be consolidated later) and cuts 28% of initially proposed questions after industry feedback. The FCA is also updating firm permissions – reviewing and revising requirements, limitations and directions for 9,000+ firms to ensure its records and rule wording are up to date. A recent FCA survey underscored consumer vulnerability: 1 in 10 people have no savings and one in four show low financial resilience (missed payments or struggling with commitments). Positively, 1.7 million people received debt advice&n...
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