Category: CONC

Issue 109 of Butterworths Financial Regulation Service has now been published. This includes updated material in chapters 1 to 5 (dealing with CONC 1 to CONC 4) written by Russell Kelsall.

Issue 109 includes new commentary on:

– the FLA’s proposals for reform of consumer credit;

– the Money Advice Trust’s new Debt & Mental Health Evidence Form;

– recent and forthcoming changes to CONC 3 (including on ‘buy now, pay later’ promotions); and

– some extra commentary on CONC 4.

Issue 108 of Butterworths Financial Regulation Service has now been published. This includes updated material, and new chapters, in chapters 5, 6A to 6D, 10, 11, 13 and 16 (dealing with CONC 4, 5A, 5B, 5C, 5D, 9, 10, 12 and 15) written by Russell Kelsall.

In addition to reviewing the existing commentary on CONC 4 (including the FCA’s consultation paper, CP 19/28, on commissions), Issue 108 includes new commentary on:

– high-cost short-term credit (in CONC 5A);

– rent-to-own (in CONC 5B);

– overdrafts (in CONC 5C and 5D);

– prudential rules for debt management firms (in CONC 10);

– agreements secured on land (in CONC 15).

Issue 107 of Butterworths Financial Regulation Service has now been published. This includes updated material in chapters 1 to 4, 14 and 15 (dealing with CONC 1, 2, 3, 13 and 14) written by Russell Kelsall.

In addition to reviewing the existing commentary, Issue 107 includes new commentary on:

– the FCA’s review of the retained provisions;

– CONC 2.11 (which was introduced on 1 October 2018 and deals with renumeration and performance management policies, procedures and practices);

– the Advertising Standards Authority’s recent increased interest in financial promotions for credit;

– the FCA’s views on the meaning of “enforcement” and the High Court’s decision in McGuffick v Royal Bank of Scotland plc [2009] EWHC 2386 (Comm).

We plan to review the remaining commentary, and publish new commentary, in Issue 108.