Section Menu
When will firms be expected to comply with the new rules?

The new rules came into effect from 1 April 2014. There are a limited number of new rules that will not come into effect after that date; these can be found in the FCA’s website.

Consumer credit firms must comply with the new rules from the date above.

What action will the FCA take if firms are found to have not complied with the existing FCA Handbook rules?

The FCA has an established approach to firms that are found to have not complied with the Handbook’s requirements. These are set out in the (SUP), which sets out the FCA’s approach to supervision and (EG) which sets out the FCA’s approach to Enforcement?

There will be a new set of rules that are specific to consumer credit firms, which will appear in the newly created Consumer Credit Sourcebook (CONC). In this Handbook there will be the conduct requirements for consumer credit firms, and the prudential requirements for debt management firms.