CP25/12: Last Chance to Respond to the FCA’s Consultation on Simplifying Certain Insurance Rules
Final chance to influence FCA's CP25/12 consultation on simplifying insurance rules before the July...
Navigating the road to Buy-Now, Pay-Later Regulation in the UK
UK's upcoming BNPL regulation aims to enhance consumer protection with mandatory affordability...
Consumer Credit Under Pressure: How to Get Ahead of PS25/3
FCA's PS25/3 policy revamps consumer credit firm reporting, demanding more detailed data to enhance...
FS25/2: What the FCA’s Push for Simplification Means for Firms
The FCA’s FS25/2 rule review sets out plans to simplify regulatory requirements following the...
Key Takeaways from the FCA's Strategy for Mortgage Intermediaries
The FCA published its most recent Dear CEO letter to mortgage intermediaries on 30 January 2025...
Thistle Initiatives Newsletters - June 2024
Here's an overview of our monthly newsletter updates of our capital sectors - June 2024
Credit and Mortgages Monthly Newsletter - June 2024
Credit and mortgages monthly newsletter - 2024
Consumer Duty View May 2024
Firms now have under 3 months to meet the 31 July 2024 deadline by which (1) firms need to have...
Insurance multi-firm review of outcomes monitoring under the Consumer Duty
Under the Consumer Duty firms must regularly assess, test, understand and evidence the outcomes...
Implementing the Consumer Duty for closed products and services by 31 July 2024
The Consumer Duty sets higher standards for retail financial services customers. It is a core part...
Tick tock, tick tock…
Geoffrey Chaucer is credited with the phrase “Time and tide waits for no man” (although The Rolling...
Thistle Initiatives Newsletters - May 2024
Here's an overview of our monthly newsletter updates of our capital sectors - May 2024
Credit and Mortgages Monthly Newsletter - May 2024
Credit and mortgages monthly newsletter - 2024
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FCA fines HSBC £6.2 million over treatment of customers in financial difficulty
In May 2024, the FCA fined HSBC UK Bank plc, HSBC Bank plc and Marks and Spencer Financial Services...
Key harms and drivers of harm caused by Appointed Representatives (ARs) and Introducer Appointed Representatives (IARs) that undertake credit broking
The FCA wants to improve principals’ oversight of their Appointed Representatives (ARs) and it has...
FCA Policy Statement on Consumer Credit Product Sales Data Reporting
The FCA has set out in its Policy Statement 24/3 its final rules & guidance for incorporating three...
Thistle Initiatives Newsletters - April 2024
Here's an overview of our monthly newsletter updates of our capital sectors - April 2024
Credit and Mortgages Monthly Newsletter - April 2024
Credit and mortgages monthly newsletter - 2024
Principal firms who have Credit Broking permissions: Good practice and areas for improvements
In April 2024, the FCA assessed and publicised the key harms and drivers of harm caused by...
FG24/1: Finalised guidance on financial promotions on social media
We clarify our expectations on how financial promotions should be communicated on social media. We...
FCA statement regarding motor finance firms financial resources
In April 2024, the FCA wrote to motor finance firms to remind them they must maintain adequate...
FCA researches borrowers' ability to repay and issues Policy Statement and guidance
In April 2024, the FCA issued research on and provided comments and a Policy Statement and...
Credit and Mortgages Monthly Newsletter - March 2024
Credit and mortgages monthly newsletter - 2024
Review of Firms' Treatment of Customers in Vulnerable Circumstances: FCA's Findings and Expectations
In March 2024, the FCA announced that it would conduct a review into how firms are acting to...
Regulators Unite: FCA's Warning on Debt Collection Practices
Together with Ofgem, Ofwat and Ofcom, we've set out our expectations for firms across markets, as...
Consumer Duty firm survey – Autumn 2023
In Spring 2023, we commissioned Ipsos UK to survey 1,230 firms in scope of the Consumer Duty (the...
FCA joins other regulators to warn firms on debt collection
In March 2024, the FCA, together with fellow members of the UK Regulators’ Network (UKRN) Ofgem,...
Review of firms' treatment of customers in vulnerable circumstances
In March 2024, the FCA announced that it would conduct a review into how firms are acting to...
Motor finance probe accelerates as FCA chief warns it’s ‘improbable we’ll find nothing’
In March 2024, the FCA’s chief executive, Nikhil Rathi, provided, in a speech entitled “Investing...
Credit and Mortgages Monthly Newsletter - January 2024
Credit and mortgages monthly newsletter - January 2024
The FCA Webinar on Consumer Duty: Key Takeaways and Next Steps
In January 2024, the FCA held a webinar on the Consumer Duty – Next Steps. A transcript of this...
FCA Investigates Motor Finance Commissions
In January 2021, the FCA banned discretionary motor finance commission arrangements (see the...
Dozens of EU platforms in limbo after missing ECSPR deadline
Dozens of peer-to-peer lending and crowdfunding platforms across Europe have been left in...
Credit and Mortgages Monthly Newsletter - December 2023
Credit and mortgages monthly newsletter - December 2023
FCA secures contract changes for growing BNPL customer population
New research from the FCA shows that there has been a significant increase in the use of...
Unregulated Buy Now Pay Later (BNPL) firms becoming authorised
Prior to Brexit, EEA-based firms were able to operate in the UK without direct FCA authorisation.
Financial Watchdog Sets Credit Information Market Improvements
Under proposed rule changes, the FCA says people will find their credit files better reflect their...
Credit and Mortgages Monthly Newsletter - November 2023
Credit and mortgages monthly newsletter - November 2023
General Insurance Value Measures reporting rules for firms
In PS20/9, the FCA introduced rules requiring General Insurance firms to report value measures...
Attesting Compliance With GI Pricing Practices Rules
In PS21/5, issued in May 2021, the FCA confirmed that senior managers would be required to attest...
FCA publishes consultation paper on fees
In November 2023, the FCA published its consultation paper on FCA fees CP23/22: Regulatory fees and...
Credit and Mortgages Monthly Newsletter - October 2023
Credit and mortgages monthly newsletter - October 2023
Fifty-nine firms hold EU crowdfunding licences
Fifty-nine crowdfunding and peer-to-peer lending platforms have been authorised under EU-wide...
FCA consults on proposed additional product sales data returns
The FCA is requesting feedback on the proposed inclusion of three new product sales data returns...
Credit Monthly Newsletter - September 2023
Credit monthly newsletter - September 2023
Key takeaways from the FCA’s recently introduced Consumer Duty
At the end of August, one month on from the introduction of the FCA’s Consumer Duty for current...
FCA consults on IDD replacement rules
The FCA is asking for feedback on its proposals for transferring part of the current regulatory...
The changing face of consumer lending
The combined effect of the rising cost of living, the higher base rate, and low wage growth means...
Credit Monthly Newsletter - August 2023
Credit monthly newsletter - August 2023
Mortgage arrears jump comes as ‘no surprise’
In the second quarter of 2023, 81,900 homeowner mortgages with arrears of 2.5% or more, a jump of...
FCA finds 60% of P2P firms not complying with new risk warning
The FCA has found that almost two-thirds of peer-to-peer lending and crowdfunding firms failed to...
Consumer Credit act to be replaced by new FCA rules
The Consumer Credit Act is set to be axed, along with Section 75. The Act will be replaced by rules...
Credit Monthly Newsletter - July 2023
Credit monthly newsletter - July 2023
Millions turning to unauthorised lenders
New research conducted by IPSOS for Fair4All Finance suggests than more than three million people...
MPs launch SME lending inquiry
Parliament’s Treasury Committee has announced plans to launch an inquiry into SME lending. This...
FCA enables firms to provide mortgage breathing space
The FCA has made changes to its rulebook to allow lenders to offer their mortgage customers...
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FCA review of liquidity management in asset managers
In July 2023, the FCA reported on its recent multi-firm review of liquidity management in fourteen...
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Financial Services & Markets Bill Proposes Changes To Legislation
The current Financial Services and Markets Bill proposes certain changes to union legislation in...
Credit Monthly Newsletter - June 2023
Credit monthly newsletter - June 2023
Bank of England set to ‘water down’ rules for lenders
The Bank of England is set to ‘water down’ changes to its post-crisis rulebook, after lenders are...
Lenders to pay out £47m to financially struggling borrowers
Following an investigation into how lenders treat borrowers who are experiencing financial...
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FCA publishes mortgage lending statistics for June 2023
The FCA collects mortgage lending data via the Mortgage Lending and Administration Returns (MLARs)...
Credit Monthly Newsletter - May 2023
Credit monthly newsletter - May 2023
Fintech to hit $1.5trn by 2030
Asia-Pacific will outpace the US and Europe to eventually become the world’s largest fintech market.
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Lending to see £29bn increase
Total lending is expected to go up by 1.2% this year, a net increase of £29bn, according to EY Item...
Bank of England to “water down” rules for lenders
Regulators are therefore examining ways to lower the burden on banks when the UK adopts new...
The FCA To Introduce A New Principle & Code Of Conduct Rule
On 31st July 2023, the FCA will implement the Consumer Duty, which is intended to fundamentally...
Credit Monthly Newsletter - April 2023
Credit monthly newsletter - April 2023
Lenders report increased default rates in Q1
Default rates on secured and unsecured loans to households and loans to small and medium-sized...
Invest & Fund Predict P2P Rebirth - Real Estate Investment Evolves
As the market sees increasing corporate ownership of housing assets, residential development...
European P2P market serves 112 countries
Research by Robo.cash suggests European peer-to-peer lenders now operate in 112 countries.
Credit Monthly Newsletter - March 2023
Credit monthly newsletter - March 2023
How will the property downturn impact P2P lending?
Investing in property-backed peer-to-peer lending can be a brilliant way to access the housing...
Eurocrowd launches pan-European working group
The European Crowdfunding Network (Eurocrowd) has launched an internal working group for platforms...
P2P business sector booms as consumer lending drops
Peer-to-peer business lending in Europe grew by 76 percent year-on-year to reach €300m (£266m) in...
Credit Monthly Newsletter
Credit monthly newsletter
More crowdfunding firms approved under new EU rules
The EU crowdfunding regulator has approved more platforms under the new pan-European crowdfunding...
Paying with BNPL leads to 72% higher transaction values
A study from Erasmus University Rotterdam (EUR) found that consumers spend on average 72% more per...
What does ECSPR mean for UK P2P platforms?
The newly introduced European Crowdfunding Service Providers Regulation (ECSPR) presents an...
Robo.cash predicts 6% growth in P2P volumes for 2023
Robo.cash is predicting that the European peer-to-peer (P2P) lending market will grow 6% during...
Credit Monthly Newsletter January 2023
Credit monthly newsletter January 2023
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What will P2P look like in 2023?
There’s no doubt that 2022 was another transformative time for peer-to-peer lending. The past...
EU agrees new rules on online credit
European parliamentarians have reached an agreement on updated consumer credit rules designed to...
EU Readies For Newly Licenced P2P & Crowdfunding Firms Influx
The new European Crowdfunding Service Provider Regulation (ECSPR) has been effective since November...
New EU rules could see lenders expand to UK
The new European Crowdfunding Service Provider Regulation (ECSPR) could make the UK peer-to-peer...
Credit Monthly Newsletter December 2022
Credit monthly newsletter December 2022
FCA ‘Loophole’ Threatens BNPL Firms With Jail Time
The FCA has written to buy-now pay-later (BNPL) chiefs warning that they could face up to two years...
£12m compensation to be paid to thousands of struggling borrowers
The FCA expects lenders to learn the lessons from examples of good and poor practice seen during...
One in eight UK consumers has experienced BNPL fraud
New research shows that only a third of Brits trust buy-now-pay-later (BNPL) services to protect...
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P2P investing stands out in a record year for alternatives
Peer-to-peer lending has stood out amongst alternative investments, offering more transparency,...
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Mortgage lending statistics - December 2022
The FCA collects mortgage lending data via the Mortgage Lending and Administration Return (MLAR)...
FCA sets out how mortgage firms should be supporting borrowers
In December 2022, the FCA set out ways that mortgage firms can help customers worried about or...
Improvements Needed To The Credit Information Market
In November 2022, the FCA set out its proposals in the interim report forming part of its Market...
Credit Monthly Newsletter November 2022
Credit monthly newsletter November 2022
BNPL – Not such a great idea after all?
In this article we look at the effect of an economic slowdown on payment choices and ask whether...
90pc of European platforms applying for EU-wide licence
90 per cent of European crowdfunding platforms say they have already started working on the...
Four platforms authorised under new EU crowdfunding rules
Lendahand and Crowdcube are among the first cohort of crowdfunding platforms to be authorised under...
One in eight consumers have experienced BNPL fraud in UK
In November 2022, the specialist fraud prevention firm Call sign issued a study of 2,000 UK...
Financial promotions quarterly data 2022
When it issued its Q3 2022 financial promotions quarterly data in November 2022, the FCA disclosed...
£12 million compensation to be paid to thousands of struggling borrowers
The FCA expects lenders to learn the lessons from good and poor practices during the coronavirus...
Credit Monthly Newsletter October 2022
Credit monthly newsletter October 2022
Fintech’s opportunity to help consumers with the cost of living crisis
As consumers’ worries multiply by the week, entrepreneurs in the digital finance space have an...
European P2P returns 12% in the year to July
European peer-to-peer lending investments returned an average of 12% in the year to July, making...
UK BNPL market continues to grow as banks join the party
Despite the growing economic storm and voices warning against such a move, UK banks continue to...
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FCA authorisations update October 2022
In October 2022, the FCA issued an authorisations update. This update covers the regulator’s...
Credit Information Market Study
In October 2022, the FCA issued an update on its now restarted Credit Information Market Study (MS...
High cost lenders
In October 2022, the FCA issued a Dear CEO letter that sets out the regulator’s updated view on the...
Consumer Duty – information for firms
In October 2022, in an update intended to help firms implement the Consumer Duty, the FCA explained...
FCA commentary on mortgage lending statistics Q2 2022
The FCA and the PRA jointly publish mortgage lending statistics every quarter; in September 2022,...
FCA warns BNPL firms about misleading promotions
In August 2022, in its latest Dear CEO letter, the FCA warned firms and merchants offering Buy Now...
The Bank of England’s Financial Policy Committee withdraws its affordability test recommendation
In 2014, the Bank of England’s Financial Policy Committee introduced 2 recommendations to guard...
Financial promotions quarterly data 2022 Q2
The FCA has issued data, covering 1 April to 30 June 2022, concerning its most recent action...
Making Buy Now Pay Later terms clearer and fairer
Early in 2022, the FCA reviewed the customer contracts of a small sample of Buy Now Pay Later...
FPC removal of affordability assessment requirement
In 2014, the Bank of England’s Financial Policy Committee (FPC) introduced two recommendations to...
FCA supervisory strategy for debt advice firms
In June 2022, the FCA issued a Dear CEO letter outlining its supervisory strategy for the debt...
Regulation of Buy-Now Pay-Later response to consultation
In October 2021, HM Treasury published a consultation paper setting out the policy options to...
P2P firms: Are you ready for an FCA audit?
The P2P market has been a roller-coaster the past few years, with a combination of several market...
FCA supervisory strategy for mainstream consumer credit lenders
In June 2022, the FCA issued a Dear CEO letter in which it explained that it had reviewed the key...
Funeral Plan Regulations
In March 2021, the FCA launched a consultation on its proposal for introducing regulation to the...
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Understanding the FCA’s Threshold Conditions - ComplyAdvantage blog series
Authorisation from the Financial Conduct Authority (FCA) is the most crucial step for early-stage...
Lenders offering Buy-Now Pay-Later (BNPL) and related products to be FCA regulated
In June 2022, HM Treasury announced that lenders offering Buy-Now Pay-Later (BNPL) products, which...
The FCA fines TFS Loans Limited
In June 22, the FCA announced in a Final Notice that it had fined TFS Loans Ltd (a firm in...
HM Treasury BNPL (buy-now-pay-later) regulation consultation closed
In October 2021, HM Treasury published a consultation paper setting out the policy options to...
FCA warns businesses to stop misleading credit adverts
In its Dear CEO letter issued in May 2022, the FCA has warned lenders and credit brokers to stop...
FCA warns it intends to look at the equity release and lifetime mortgage advice market
The FCA warns that it intends to look again at the equity release/lifetime mortgage advice market...
FCA operational resilience (PS 21/3) - deadline 31 March 2022
The FCA published a shared final policy summary on requirements to strengthen operational...
What important changes does your BNPL firm need to action right now ahead of upcoming regulation?
BNPL regulation changes are incoming! HM Treasury closed its consultation on 6 Jan 2022 and...
First credit rating agencies portfolio letter
The FCA issued the letter to all firms in the CRA portfolio to communicate what it expects CRAs to...
First credit rating agencies portfolio lette
In Feb 2022, the FCA issued its first portfolio letter to credit rating agencies (CRAs). The FCA...
FCA consumer investments data review
FCA's 3rd consumer investments data review, covering the period from Apr to Sep 2021 and provides...
FCA appropriateness test changes cost impact on P2P lenders
FCA issued its CP 22/2 consultation on financial promotions for high-risk investments, which...
HM Treasury is preparing for the future regulation of BNPL (buy-now-pay-later) products
HM Treasury published a CP setting out the policy options to achieve a proportionate approach to...
FCA publishes Discussion Paper DP 21/4 - labelling ESG Investment products
FCA publishes Discussion Paper DP 21/4 - labelling ESG Investment products
FCA publishes its six-monthly complaints data
FCA publishes its six-monthly complaints data
Consumer credit information sheets updated by FCA
The FCA has published revised consumer credit information sheets on its webpage. Section 86A of the...
FCA announce credit broking survey
Credit broking survey - The FCA announced in June 2021 that its pilot survey sent to 300 credit...
Consumer credit regulation update – major changes may be on the way
Consumer credit regulation update: The FCA published, in Feb 2021, a report on change & innovation...