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Part V Deposit-Taking and Consumer Credit Conduct of Business, 17 Regulation of Consumer Credit Business by the Financial Conduct Authority

Gerard McMeel

From: McMeel and Virgo On Financial Advice and Financial Products (3rd Edition)

Edited By: Gerard McMeel, John Virgo

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2022. All Rights Reserved.date: 27 January 2022

Subject(s):
UK Financial Conduct Authority (FCA) — UK Financial Services Authority (FSA) — Financial Services and Markets Act 2000 — Conduct of business regulation — Financial promotion — Credit

This chapter discusses the Financial Conduct Authority's (FCA) regulation of the consumer credit industry. It begins with an introduction to the consumer credit regime. It then details the scope of regulated credit-related activities, covering the rules for entering into a regulated credit agreement; entering into a regulated consumer hire agreement; operating an electronic system in relation to lending; credit broking; and debt adjusting, debt-counselling, debt-collecting and debt administration. This is followed by discussions of the authorisation, supervision, and enforcement of credit-related activities and credit firms by the FCA; conduct of business standards; and the rights of action and complaints to the Ombudsman.

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