Go to FCA handbook on line, You will need to set the date at the top of the page to 1 April 2014 in order to see the new rulebook. Scroll down and you will find the new Consumer Credit Sourcebook (CONC) under Specialist Sourcebooks.
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Consumer Credit final rules FCA
As most of you will be aware the FCA have published final rules for Consumer Credit, You can read the rules on their website now. The rules will apply from 1 April 2014, when they they will begin to regulate the consumer credit industry. To help firms get ready for being regulated by the FCA they have published a
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Importance of checking adverts and marketing
Recent adjudication from the ASA concerning a TV advert which was not upheld, highlights the importance of ensuring that all marketing and advertising is checked and signed off and adequate explanations are available on request. ASA Adjudication on Provident Personal Credit Ltd Provident Personal Credit Ltd t/a Satsuma Loans Three issues were investigated, all of
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Mortgage Market Review (MMR) from 26th April 2014
From 26th April, the Mortgage Market Review (MMR) will subject the mortgage intermediary sector to a more intrusive, proactive and pre-emptive regime than intermediaries have previously experienced. With the deadline for implementation on 26th April The regulator has stated that they will carry out a post-implementation review of the MMR within six months to measure its
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FCA CCL proposals are you getting ready?
The Financial Conduct Authority (FCA) sets out its vision for the regulation of consumer credit when it takes over from the Office of Fair Trading (OFT) on 1 April 2014 The FCA’s consultation paper can be found online Diary Expected date Content October 2013 Consultation paper on fees, including authorisation fees for consumer credit firms
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Do you make marketing calls
Companies who make marketing calls should read . Direct marketing guidance published by the ICO in September 2013 , particularly focusing on the importance of consent, while a direct marketing checklist has been produced to help companies understand how the law works.
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Consumer Credit – The FCA have issued the following email
Registration is open You can register with us from today. This means you will have permission to continue your consumer credit activities after the Office of Fair Trading (OFT) ceases to exist on 31 March next year. We are calling this ‘interim permission’ and it will last until you need to be fully authorised by us sometime
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OFT licence holders ‘important dates’ to obtain FCA interim permissions
There is a short timetable to the transfer and the FSA is keen to make the transition as straightforward as possible. This means that there will be a phased approach to the transfer, with an interim period starting in April 2014 and moving to full implementation by April 2016. From Autumn 2013, existing OFT licence
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Cookies ICO guidance are you covered
First issued in May 2011, the guidance has been updated to clarify the following points around implied consent: Implied consent is a valid form of consent and can be used in the context of compliance with the revised rules on cookies. If you are relying on implied consent you need to be satisfied that
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OFT guidance issued misleading or otherwise undesirable names
Guidance was issued today regarding undesirable and misleading trading names OFT 1378 April 2012 The guidance applies to any trading name a business uses which is linked to the provision of credit or ancillary credit services. This includes on-line domain names and web-site addresses. It also covers, for example, online names used by ‘lead generators’ where
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