DEMSAPlus

DEMSA Column: BNPL regulation / Insolvency Stats / SM&CR / Redress system / Collaborations / Events

In today’s bulletin: General update Personal Insolvency Statistics – June 2025 The rise of online debt advice CP25/23 - Deferred Payment Credit (unregulated Buy Now Pay Later) Consultation FCA sets faster targets for authorisations CP25/22: Modernising the redress system + FCA update Collaborations Events   General update It was good to catch up with Helen Webb and Nigel Bryant on Friday. CAP is featured in the BBC story 'People in debt shouldn't have to suffer alone'. ONS has announced that… Read more

KEY THEMES+ ¦ DEMSA Summary

What you need to know this week FCA scrutiny of debt advice is intensifying with deep file reviews but no planned update to CONC 8, despite 11 years without revision. Misalignment between CONC 7 and CONC 8 highlights inconsistencies in FCA guidance, especially around vulnerability, signposting, and digital tools. New Guaranteed Standards Scheme (GSS) reforms will see water customers in England receive automatic compensation up to £2,000 for service failures from 1 October 2025. Over 1.66 million children are now… Read more

DEMSA Column: Vulnerability / Debt Advice review / Insolvency Reform / Energy debts / Water initiatives / AI / Collaborations / Events

In today’s bulletin: General update CP24-28 - Operational Incident and Third Party Reporting Re-imagining Personal Insolvency in England & Wales 'Tell Us Once' systems - the blueprint The Insolvency Service update Collaborations Events   General update Debt advice under the current FCA regime With the CONC 8 review having been suspended and the increased supervisory work around the quality of debt advice, I am now observing the depth of case file reviews from the FCA. These don’t seem to have… Read more

KEY THEMES+ ¦ DEMSA Summary

What you need to know this week UK Finance calls for FOS reform and clearer direction on open banking and digital payments. The FCA soft-launches a tailored Handbook website aligned by permissions and sectors. FOS reports a 54% year-on-year increase in complaints, driven largely by credit affordability and motor finance. Consumer credit balances and BNPL usage continue to rise, raising questions around affordability and risk. FCA stakeholder event focuses on simplifying regulation and improving communications. Personal insolvency framework update published;… Read more

DEMSA Column: FCA / Insolvency / FOS / AI / Credit Reporting / Collaborations / Events

In today’s bulletin: General update Financial Ombudsman Service 2024/25 complaints report Debt remedies and credit reporting Harnessing AI and its governance - FCA speech - 1/7/2025 Collaborations Events   General update UK Finance publishes Mansion House submission UK Finance has published its submission to government ahead of the Chancellor’s Mansion House speech on 15 July and the government’s new Financial Services Growth and Competitiveness Strategy. Two key areas stood out for me in the submission: FOS reform: Set out how… Read more

KEY THEMES+ ¦ DEMSA Summary

What you need to know this week Council tax arrears in England have reached £6.6bn, a 10% annual increase, with 25% of National Debtline callers affected. The FCA has launched a mortgage rule review aimed at improving home ownership and affordability. The Data Use and Access Act 2025 introduces phased reforms to UK data protection law. The Lending Standards Board will wind down by 31 October 2025, removing independent oversight for SME lending protections. New research from TransUnion UK reveals… Read more