Members' Briefings Archive - Page 2 of 5

HMT – Consumer Credit Act 1974 (CCA) Reform

HM Treasury has published its Phase 1 Consultation on Consumer Credit Act 1974 Reform HM Treasury’s Phase 1 consultation will outline the Government’s overall vision for a reformed regime, as...

FCA: CP25/16 Quarterly Consultation No.48

FCA: CP25/16 Quarterly Consultation No. 48 Member Briefing The FCA has published a consultation paper (CP), CP25/16 Quarterly Consultation. This member briefing is for the consultation on Chapters 2 and...

CP13/25 – Credit Union Service Organisations

CP13/25 – Credit Union Service Organisations This consultation comes following the PRAs recently letter issued in March which laid out their current position on Credit Union Service Organisations (CUSOs)...

HM Treasury – Regulation of Buy-Now Pay-Later products consultation on draft legislation briefing

Update HM Treasury has published the Government’s response to the consultation. ABCUL was amongst 61 respondents to the consultation. BNPL agreements offered by third-party lenders will be part of a...

Community Wealth Building Bill (Scotland)

Scottish Government has introduced and published a Community Wealth Building (CWB) Bill, the Bill is designed to create jobs and drive economic growth across Scotland by promoting investment in communities....

Bank of England Credit Unions Statistics Q4/24

ABCUL have analysed and collated the latest statistics published by the Bank of England on the credit union sector for the fourth quarter of 2024. The Bank of England statistical...

FCA CP25/7 – Regulated Fees and Levies: Rates Proposals for 2025/26

The FCA has published its annual regulated fees and levy consultation paper for 2025/26. The consultation paper contains proposals and projections for the regulatory fees and levies under its jurisdiction...

Preparation for Digital ISA reporting

HMRC are undertaking a technical consultation on the draft Statutory Instrument (linked below) which amends the ISA Regulations. HMRC plan to lay the Statutory Instrument this summer for it to...

PRA CP4/25 – Depositor Protection and Bank Resolution (Recapitalisation) Bill Consultation

Proposals related to the FSCS protection limits The Prudential Regulation Authority has published CP4/25 to consult on changes to protection deposits from the Financial Services Compensation Scheme (FSCS). It is...

FCA Strategy 2025-2030 Summary

FCA Strategy 2025-2030: The strategy outlines how the Financial Conduct Authority will work over the next 5 years. The FCA has chosen to focus on 4 key priorities: To...

Operational Resilience: Operational incident and outsourcing and third-party reporting

The FCA has published a consultation paper, CP24/28: Operational Incident and Third-Party Reporting. The FCA states that the proposals included in the consultation document aim to bolster the existing operational...

Bank of England Quarterly Credit Unions Statistics Q3/24

Introduction: The Bank of England gathers information from credit unions’ quarterly reports to create a statistical report about the credit union sector in the UK. However, submitting and processing the...

Debt Recovery (Mental Health Moratorium) (Scotland) Regulations Consultation

The Scottish Government has issued a consultation paper setting out the opportunity for feedback regarding the latest draft of the Mental Health Moratorium Regulations and the implementation of the Moratorium...

Financial Ombudsman Service: Budget Proposal 2025/26

The Financial Ombudsmen Service (FOS) has released a consultation on its plan and budget for 2025/26. This consultation proposes the FOS’s fees and costings for the upcoming financial year. The final budget is...

FCA Regulated Fees and Levies: Policy Proposals for 2025/26

The FCA has published its annual regulatory fees and levy consultation paper for 2025/26. This consultation paper covers rules that enables the FCA to collect certain levies on behalf of government departments....

Bank of England Quarterly Credit Union Statistics Q2/24

Introduction: The Bank of England gathers information from credit unions’ quarterly reports to create a statistical report about the credit union sector in the UK. However, submitting and processing the...

Help to Save: Future Delivery Model Consultation

HM Treasury have launched an additional consultation on Help to Save which focuses on the possibility of a multi provider model, the development of a new bonus calculation, the use...

PRA Annual Assessment Letters to Category 4 Credit Unions

PRA Annual Assessment Letters to Category 4 Credit Unions Published The Prudential Regulation Authority (PRA) have published their annual assessment letters to all category 4 credit unions. Category 4 credit...

Call for Evidence: Credit Union Common Bond Reform

The government has declared its commitment to unlocking the full potential of the mutuals sector. Under the Credit Unions Act 1979, the members of credit unions must fulfil the credit...

Briefing on the review of the Co-operative and Community Benefit Societies Act (CCBSA) 2014

Introduction HM Treasury asked the Law Commission to review the CCBS Act, consider whether the law is fitting to the nature and needs of co-operative and community benefit societies, and...

Bank of England Quarterly Credit Union Statistics Q1/24

Introduction: The Bank of England gathers information from credit unions’ quarterly reports to create a statistical report about the credit union sector in the UK. However, submitting and processing the...

CALL FOR INPUT: FCA – Review of the Requirements Following the Introduction of the Consumer Duty

CALL FOR INPUT: FCA – Review of the requirements following the introduction of the Consumer Duty Comments for Call for Input should be submitted by October 31, 2024. Comments should...

Policy Statement: FCA’s Access to Cash

FCA Policy Statement on the Access to Cash From the 18th September 2024, banks and building societies will need to: Access cash access and understand if additional services are needed,...

FCA Amendments to Guidance on PEPs

Proposed amendments to Guidance on the treatment of politically exposed persons: The FCA have released their final amendments to the Guidance on Politically Exposed Persons (PEPs). There have been four...

FCA Regulated Fees and Levies 2024/25

UPDATE: The FCA has published PS24/5 which details the outcome to its fees and levies rates consultation for 2024/25, with the initial consultation proposals detailed in this briefing. This update...

Welsh Government Future of Dormant Assets Funding Consultation

UPDATE: ABCUL’s consultation response advocated for financial inclusion to be a priority for the distribution of the Welsh Dormant Asset Scheme; where a substantial amount of untouched money could be...

Financial Ombudsman Service Consultation – Charging Claims Management Companies and other Professional Representatives

Update: Financial Ombudsman Service (FOS): Charging claims management companies (CMCs) and other professional representatives Policy Statement. The full FOS Policy Statement can be viewed here The FOS have published their...

Bank of England Credit Union Statistics – Quarter Four 2023

Introduction: The Bank of England gathers information from credit unions’ quarterly reports to create a statistical report about the credit union sector in the UK. However, the process of...

FCA Fees & Levies 2024/2025

The FCA has published its annual regulatory fees and levy consultation paper for 2024/25. The consultation paper contains proposals and projections for the regulatory fees and levies under its jurisdiction for the...

FCA borrowers in Financial Difficulty

On the 10th of April the FCA published their Policy Statement and final rules on Strengthening Protections for Borrowers in Financial Difficulty: Consumer Credit and Mortgages. The FCA’s final rules...

Prudential Regulation Authority – Standards in Governance of Credit Unions

On the 14th of March 2024 the Prudential Regulation Authority (PRA) issued the letter on the standards in governance of credit unions to all Category 4 credit unions. The PRA’s...

FCA 2024/25 Business Plan

FCA’s Business Plan 2024/5 – Summary and its priorities: The Financial Conduct Authority has published its Business plan for 2024/25, which highlights the regulators key priorities for the coming year....

FCA Consumer Lending Letter

The Financial Conduct Authority (FCA) recently published a letter to CEO’s of firms in its consumer lending portfolios. This effectively sets the strategy that Roma Pearson, the FCA Director of...

The Quarterly Consultation 43 by the Financial Conduct Authority

The FCA has recently published its Quarterly Consultation Paper No. 43. This paper is related to the consultation paper on the CTP regime 26/23 and CP23/30, which focuses on Operational...

HM Treasury Enhancing the Special Resolution Regime Consultation

HM Treasury have released a consultation on “Enhancing the Special Resolution Regime”. This consultation set out proposals for a new mechanism to facilitate the use of certain existing stabilisation powers...

Operational Resilience for Critical Third Parties

Purpose of the Consultation Paper: The Prudential Regulation Authority (PRA), Financial Conduct Authority (FCA) and the Bank of England (BoE) have jointly produced this consultation paper CP26/23 in order to...