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The FSA is consulting on how the FCA will regulate consumer credit firms. Transfer of regulation of consumer credit firms from the OFT to the new FCA will take place on 1 April 2014.

The FSA advises the following to read (and take part in) the consultation.

    • firms that currently hold individual or group consumer credit licences issued by the

      OFT under the CCA;

    • firms that are considering starting to carry on consumer credit activities;
    • operators of peer-to-peer platforms (who will be affected by the Government’s proposal to extend the perimeter);
    • trade bodies representing consumer credit firms;
    • consumer bodies;
    • not-for-profit bodies providing debt advice;
    • other bodies currently involved in regulating consumer credit, including the Local Authority Trading Standards Services (LATSS) and the Department of Enterprise, Trade and Investment (Northern Ireland) (DETINI); and
    • groups that represent those with protected characteristics (age, gender, disability, race, pregnancy and maternity, religion and belief, sexual orientation and transgender) as they may wish to comment on our equality impact assessment (Annex 4). 

You will find a copy here