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Latest News

24
Jul

FCA’s New Authorisation Targets Give Firms a Boost

July 24, 2025
In a move welcomed with a collective sigh of relief, the FCA has introduced faster targets for firm authorisations—an unequivocally positive boost for consumer credit providers and FCA-regulated businesses. Not only does this signal progress towards being a more pro-growth, efficient regulator, but it also tidies up long-standing frustrations around lengthy application processes.  That’s a...
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24
Jul

FCA Complaint Handling Reforms: What Consumer Credit Firms Need to Know Now

July 24, 2025
The FCA, in partnership with HM Treasury and the Financial Ombudsman Service (FOS), have launched a proposed reform to the UK’s complaints handling and redress framework. These changes are more than administrative tweaks – they represent a strategic shift in how financial firms will be expected to engage with customer disputes, redress, and regulatory supervision....
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22
Jul

Two Years In: The Consumer Duty Board Report Deadline Returns

July 22, 2025
What FCA-Regulated Consumer Credit Firms Need to Include, Avoid and Act On in Year Two The Clock’s Ticking Again! As we approach the second anniversary of the FCA’s Consumer Duty, regulated firms are once again required to publish and present their annual board reports evidencing compliance with the Duty’s four key outcomes and cross-cutting rules....
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24
Jun

Making the Data Count: FCA PSD Reporting for Consumer Credit Firms

June 24, 2025
In the dynamic world of consumer credit, staying ahead isn’t just about competitive rates or innovative products—it’s also about robust compliance. The Financial Conduct Authority (FCA) emphasises the significance of Product Sales Data (PSD) reporting, a critical component for firms operating in sectors such as debt collection, high-cost short-term credit (HCSTC), pawnbroking, and credit brokerage....
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24
Jun

Financial Lives 2024: Key Insights for UK Consumer Credit Firms

June 24, 2025
The Financial Conduct Authority’s (FCA) Financial Lives 2024 Survey provides a comprehensive overview of UK consumers’ financial situations, behaviours, and attitudes.  For consumer credit firms, these insights are invaluable for aligning operations with regulatory expectations and enhancing customer outcomes. What’s New in the 2024 Survey Digital Inclusion Improvements: The number of digitally excluded adults decreased...
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24
Jun

FCA’s Authorisations Metrics: What Consumer Credit Firms Looking to Apply For New Permissions Need to Know

June 24, 2025
The Financial Conduct Authority (FCA) has recently published its Q4 2024/25 Authorisations Operating Service Metrics, covering the period from January to March 2025. This quarterly report provides transparency into the FCA’s performance in processing various applications, which is crucial for firms in the financial services sector, especially those involved in consumer credit.   Key Highlights from...
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24
Jun

FCA Compliance for SMCR and Directors

June 24, 2025
FCA Compliance and Senior Hires: Why Background Screening Is A Non-Negotiable In the highly regulated financial services industry in the UK, the integrity, competence, and honesty of individuals holding senior roles are critical to maintaining public trust and organisational stability. The Financial Conduct Authority (FCA) places significant emphasis on ensuring that directors and senior managers...
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24
Jun

Why Consumer Credit Firms Must Get FCA Returns Right

June 24, 2025
In today’s tightly regulated financial environment, data isn’t just a back-office task—it’s a regulatory lifeline. For UK consumer credit firms, the Financial Conduct Authority (FCA) requires precise and timely regulatory reporting to ensure firms are operating within the rules and delivering fair outcomes to consumers. Through its consumer credit reporting requirements, the FCA gains insight...
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24
Jun

Banked But Broke? What the FCA’s Findings Mean for You—and the Credit Industry

June 24, 2025
We’ve All Got Bank Accounts… So Why Aren’t We Saving? According to the latest FCA press release, financial inclusion is improving in some areas, but troubling gaps remain. While more people in the UK now have bank accounts, 1 in 10 adults still have no cash savings whatsoever. That’s right—no rainy day fund, no emergency...
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