Related insights: Consumer Regulation
Empowering Consumers for the Green Transition Directive – what will this new legislation mean for your business?
11 Apr 2024
Does your business manufacture consumer goods which are sold into the EU?
Does your business supply or distribute consumer goods into the EU?
If the answer to either of these questions is yes, then you need to know about the Empowering Consumers for the Green Transition Directive (ECGTD).
Does your business supply or distribute consumer goods into the EU?
If the answer to either of these questions is yes, then you need to know about the Empowering Consumers for the Green Transition Directive (ECGTD).
Living with the Consumer Duty
04 Mar 2024
When the FCA talks about the Consumer Duty, it seems that its favourite phrase is "not once and done". By which it means that regulated firms can't sit back and rest, basking in the satisfaction of having implemented the Duty. For some firms, there's still more to be done to ensure full implementation, and for all firms staying compliant is an ongoing exercise that they must build into everything they do that could have an impact on consumers.
Motor vehicle finance – the next PPI?
24 Jan 2024
It would certainly be safe to say that the Financial Conduct Authority (FCA) has decided to enter 2024 with a bang – publishing policy statement PS24/1 (the Policy Statement) setting out temporary changes to the rules for handling complaints relating to discretionary commission arrangements (DCAs) in the motor finance industry on the 11 January. Although relatively benign in themselves, these changes are a direct response to the increasing volume of complaints regarding DCAs which have been referred on to the Financial Ombudsman Service (FOS) (and in some cases, to the Courts) having been rejected by the motor finance firms concerned. The Policy Statement also provides an insight into how the FCA intends to handle what is almost certainly a significant industry-wide issue.
Consumer Duty: now to test your compliance
31 Jul 2023
31 July 2023 sees the implementation date for all of the FCA's Consumer Duty rules for current products and services. Firms may feel they've been preparing for this day for years, but there's no time to relax. FCA will look at all interactions with retail customers through a Consumer Duty lens, and firms will be anxious to see how their carefully planned programmes measure up to regulatory expectation.
Womble Bond Dickinson sponsors AGM of Chartered Trading Standards Institute's (CTSI) Business Members' Group
14 Jun 2023
Womble Bond Dickinson (WBD) is proud to be sponsoring the annual general meeting of the Chartered Trading Standards Institute's (CTSI) Business Members' Group.
Buy-Now-Pay-Later regulation
14 Feb 2023
Treasury has published the long-awaited consultation on draft legislation to bring those who offer Buy-Now-Pay-Later and similar products within the scope of financial regulation. It has published both draft legislation and a consultation paper which explains why it has taken certain policy decisions on what to include and what to leave outside the regulatory perimeter.
What's next for UK financial regulation?
14 Dec 2022
Early December brought a flurry of activity laying the groundwork for some extensive changes to financial services regulation in 2023 and beyond. Parliamentary activity on the Financial Services and Markets Bill (the Bill) has now stopped until the New Year but it has completed the major hurdle of its passage through the Commons.
Are you ready for Consumer Duty?
25 Oct 2022
In partnership with Lexology, Womble Bond Dickinson hosted a webinar to discuss the upcoming Consumer Duty. But is your business ready for the changes?
A matter of Principle (12): FCA finalises Consumer Duty rules and guidance
04 Aug 2022
The FCA has published its final rules on the new Consumer Duty (PS22/9), heralding a major shift in the delivery of UK financial services. Firms have a year to comply. Read this article from Womble Bond Dickinson to find out more.
Increased risks for businesses – proposed new CMA powers
21 Apr 2022
The UK Government has announced that it proposes to enhance the CMA's consumer protection and competition powers.
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