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Consumer credit

On 1 April 2014, the regulation of consumer credit passes from the OFT to the FCA. At the same time, Institute’s group consumer credit licence ceases. After that date, authorisation will either be directly by the FCA or via the Institute’s arrangements made under Part XX of the Financial Services and Markets Act 2000 (transitional arrangements).

There will be transitional arrangements in place for the period 1 April to 30 September 2014.

Latest Developments on UK Consumer Credit Group Licence

Categories of consumer credit included in Institute’s group licence
Categories of consumer credit not included in Institute’s group licence

FAQs regarding changes

What happens on 1 April 2014?
What are credit related regulated activities?
Previously, I used the group licence, what should I do?
I have an OFT licence, what should I do?
I am FCA authorised, what should I do?
I am an insolvency practitioner, what should I do?
Guidance, what activities can I do?

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