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Latest News

13
Oct

Consumer Duty One Year On

October 13, 2025
Where Credit Firms Should Focus It has been just over a year since the FCA’s flagship Consumer Duty came into effect for most retail financial services firms, including credit brokers, lenders, and consumer credit providers. For many businesses, this has been the most significant regulatory shift in the past decade – reshaping expectations around culture,...
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13
Oct

The FCA Just Revolutionised Consumer Credit Reporting

October 13, 2025
PS25/3 – The FCA Just Revolutionised Consumer Credit Reporting: Are You Ready? When the FCA publishes PS25/3: Consumer Credit Regulatory Returns on 7 May 2025, it didn’t just tweak the rules—it delivered a step-change in how credit broking and related firms must report supervisory data (fca.org.uk). You can read the full text of PS25/3 (PDF)...
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13
Oct

Consumer Duty in Focus – What’s Next for 2025?

October 13, 2025
The FCA’s Consumer Duty isn’t new—but as we enter its second full year, expectations are rising fast. Firms regulated for consumer credit can no longer rely on policies that simply ‘tick the box’. What’s Changing in 2025? By 31 July 2025, firms must: Complete their second annual Consumer Duty Board Report Evidence of measurable improvements...
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09
Sep

What are the FCA regulatory priorities?

September 9, 2025
The FCA (Financial Conduct Authority) is the UK’s regulator, which oversees all of the country’s financial services. It oversees every financial product, including commercial insurance, consumer credit, foreign exchange and fintech, with the FCA being the governing body that sets out policies and procedures.  With an organisation so broad and important that oversees some of...
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01
Aug

Simplifying SM&CR

August 1, 2025
What FCA-Regulated Firms Need to Know, Now The regulators are listening. In July, the FCA and PRA jointly proposed reforms to the Senior Managers & Certification Regime (SM&CR)—a regulatory cornerstone for financial services firms since 2016. For the thousands of businesses operating in the consumer credit space, the proposed changes are being positioned as a...
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01
Aug

FCA Complaint Handling Reforms

August 1, 2025
What Consumer Credit Firms Need to Know Now 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...
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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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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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