What you need to know this week
- Inflation in the UK rose to 3.6% in June 2025, prompting speculation around delayed interest rate cuts.
- June 2025 saw 10,279 personal insolvencies in England & Wales, with DROs nearing record highs.
- FCA has published CP25/23 on the regulation of Buy Now Pay Later (BNPL), with new proposals under consultation.
- FCA issued enforcement data showing over £186m in fines, 1,456 authorisation cancellations, and 730 UIOLI cases in 2024/25.
- Companies House identity verification becomes mandatory in Autumn 2025 for directors and PSCs under new economic crime legislation.
- FCA is consulting on faster targets for authorisations, proposing reduced processing times for SMF and VoP applications.
- Digital debt advice continues to rise, with 86.7% of new StepChange sessions initiated online.
- FCA supervision practices are under scrutiny, particularly in assessing digital-first and AI-led debt advice models.
- CP25/22 and CP25/13 propose reforms to the redress system and improvements in complaints reporting.
- The Insolvency Service outlined its economic crime strategy, securing 77 convictions and over £4m in compensation in 2024/25.
- Collaborations continue with acquisitions and partnerships (e.g. Firstsource acquiring Pastdue Credit Solutions, COEO to join doValue).
- Upcoming event: PayPlan and MorganAsh present a customer vulnerability case study on 24 July 2025.
Read the full summary – here
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