Reform tracker

Take a quick overview of the major changes planned in financial services regulation with the Reform Tracker. Entries are colour-coded to reflect their current status: from blue-sky consultations to imminent implementation. Use the search bar and filters below to narrow your focus by country and sector. Alternatively, use the Regulatory Timeline tool for more information on timetables and deadlines.
  • Blue: No legislative proposal as of yet
  • Green: Legislative proposals published but not yet adopted/finalised
  • Yellow: Legislation in force but main substantial provisions not yet effective
  • Red: Legislation in force and main, substantial provisions now effective
  • Grey: Not proceeding
  • Magenta: No longer updated

Showing 1 - 2 of 2 matches filtered by 'Consumer credit'

  • Subject:
    Consumer Credit Transition to the FCA
    Consumer credit regulation now with the FCA; CONC now in force.
    Last updated:

    Consumer credit regulation transferred from the Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA) on 1 April 2014. Most of the Consumer Credit Act, along with OFT rules and some OFT guidance is “replicated” as rules in the new FCA Consumer Credit Sourcebook (CONC). The FCA is consulting (CP15/6) on further changes to CONC. There are new and more stringent rules for providers of High Cost Short Term Credit (HCSTC) alongside new rules in relation to debt management and peer-to-peer (P2P) lending. The new regulator also has greatly increased powers of investigation and enforcement over the OFT.  A temporary ‘interim regime’ is in place for firms already holding relevant consumer credit licences. The FCA maintains a Consumer Credit Register that lists those firms that can currently carry out consumer credit activities.


    This reform tracker item is no longer updated.

    Publications by date:


    19 December 2012 Financial Services Bill receives royal assent.
    6 March 2013 FCA and HMT release consultation papers detailing proposed new regime.
    1 April 2013 'Legal Cutover': FSA replaced by FCA and PRA.
    February 2014 FCA Policy Statement including final version of CONC published.
    February 2015 FCA published CP15/6 on further changes to CONC.
     13 August 2015  CMA issued  Payday Lending Market Investigation Order 2015.
     29 September 2015 FCA published  PS15/23: Consumer credit - feedback on CP15/6 and final rules and guidance.
     28 October 2015 FCA launched  CP15/33: Consumer credit: proposals in response to the CMA’s recommendations on high-cost short-term credit.
    3 November 2015 FCA: published - MS14/6.2: Credit card market study interim report
    26 November 2015

    FCA published “Dear CEO” letter - The FCA's expectations of debt management firms when customers or customer information are being transferred.

    FCA published a note on Key strategic forces changing financial services/Restriction and suspension powers/Peer to peer lending permissions.

    4 January 2016 FSCS: bank deposit protection limits - limit changed as of 1 Jan 2016. Deposits made by private individuals and small businesses to any authorised firms are protected by the FSCS. As of 1 January 2016, the deposit compensation limit is £75,000.
    13 January 2016 FCA issued a press release: Helping consumers with debt management plans.
    8 March 2016 CMA published a short guide: Deposits, advance payments and cancellation charges explained.
    18 March 2016

    FCA: Call for input on the review of retained provisions of the Consumer Credit Act.

    FCA issued a press release on Card security consumer redress scheme.

    The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016/392 published.

    5 April 2016 FCA launched a consultation - CP16/9: FCA regulated fees and levies: rates proposals 2016/17
    28 April 2016 The Consumer Credit (Disclosure of Information) (Amendment) Regulations 2016/530. The Regulations make provision in relation to the regulation of consumer credit under CCA 1974 and amend tables 5 of Schedules 1 and 3 to the Consumer Credit (Disclosure of Information) Regulations 2010 to ensure that a firm which has been given a Firm Reference Number following authorisation by FCA may continue to use its “Interim Permission Number” on forms for a period of 90 days, if it wishes to do so. (Date in force: 17 May 2016)
    29 April 2016 Bank of England published a working paper: Peer-to-peer lending and financial innovation in the UK.
    26 May 2016 FCA published PS16/15: Consumer credit: proposals in response to the CMA recommendations on high-cost short-term credit.
    27 May 2016 FCA published details of instruments passed at its Board meetings on 21 April (additional to Instruments announced in Handbook Notice32) and 26 May 2016. These are: Consumer Credit (High-Cost Short-Term Credit Price Comparison Website) Instrument 2016/35, Handbook Administration (No 41) Instrument 2016/37, Controllers Instrument 2016/38 and Consumer Credit (Amendment No 3) Instrument 2016/39.

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  • Subject:
    Consumer Credit Directive (CCD)
    Consumer Credit Directive in force.
    Last updated:

    The Consumer Credit Directive (2008/48/EC) (CCD) was designed to modernise the EU consumer credit regime. It is a maximum harmonising Directive.


    This reform tracker item is no longer updated.

    Publications by date:


    22 May 2008 Final text of CCD published in OJ.
    1 February 2011 Majority of CCD implementing regulations come into force.
    30 April 2011 Remaining implementing regulations come into force.
    15 November 2011 Text of amending Directive (2011/90/EU), which amends Part II of Annex I to the CCD, published in OJ.
    1 January 2013 Implementation deadline.
     14 May 2014  European Commission adopted  the Report on the implementation of the Directive.

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