PS13/8 Consumer credit: carrying across some secondary legislation

Why are we issuing this Policy Statement (PS)?

This policy statement (PS) sets out our decision about carrying across some Consumer Credit Act (CCA) secondary legislation into FCA rules. We will consult on the further detail of our consumer credit regime later this year.

This follows the recent legislative changes made by Parliament that enable the transfer from the OFT to the FCA to go ahead.

Who is this PS aimed at?

This paper will interest:

• firms that currently hold individual or group consumer credit licences issued by the OFT under the CCA
• credit unions
• trade bodies representing consumer credit firms

Policy Statement

• PS13/8 FCA regime for consumer credit: carrying across some Consumer Credit Act secondary legislation into FCA rules - Including made rules[2]

What are the next steps?

Our forthcoming consultation paper will set out our full approach and will interest consumers and consumer bodies.

Want to find out more?

• FSA CP13/7 - Consumer credit regulation - our proposed regime[3]
• PS13/7 - FCA regime for consumer credit: interim permission fees
  Response to Question 25 in the FSA consultation CP13/7 and made rules[4]
• Visit the Consumer credit web pages