The Government has announced plans to enhance economic growth by overhauling the current regulatory system, which is seen as a barrier to investment and innovation. In response to economic growth figures in November that fell short of expectations, the Chancellor called on the regulators to expedite the Government's growth agenda for the financial sector. In this edition, we discuss the response from the Financial Conduct Authority (FCA) to the Government setting out its strategies to bolster the growth of the UK's economy. In this issue we also provide an update on the ongoing legal and regulatory interventions in the motor finance sector. Lastly, we share our insights on the regulatory priorities in the coming months for the Credit Reference Agencies and Credit Information Service Providers in light of the FCA's recently published Dear CEO letter to these firms.
FCA's letter to the Prime Minister outlining its strategies to bolster the growth of the UK's economy
The Government has announced plans to enhance economic growth by overhauling the current regulatory system, which is seen as a barrier to investment and innovation. In response to economic growth figures in November that fell short of expectations, the Chancellor called on the regulators to expedite the Government's growth agenda for the financial sector. In this edition, we discuss the response from the Financial Conduct Authority to the Government setting out its strategies to bolster the growth of the UK's economy.
Read more on the FCA's plans for economic growth here
Ongoing legal and regulatory interventions in the motor finance sector
Since the landmark decision delivered by the Court of Appeal on lender liability regarding secret commissions in the motor finance sector, the spotlight has been firmly on motor finance across numerous press stories and sector updates. This ruling not only shifts the gears on existing legal frameworks but also maps a new route for future disputes in the motor finance world. In this article we delve into some of the recent updates in relation to the ongoing legal and regulatory interventions in the motor finance sector.
Read more on these developments here
The FCA's Dear CEO letter setting out its strategy for Credit Reference Agencies and Credit Information Service Providers
On 10 January 2025, the Financial Conduct Authority published a Dear CEO letter: FCA strategy for Credit Reference Agencies (CRAs) and Credit Information Service Providers (CISPs). The letter sets out the FCA's priority areas of focus for this portfolio for the next two years.
Click here to read more on the regulatory priorities for CRAs and CISPs
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