The FCA has recently re-published its guide for consumer credit firms. The guide is intended for consumer credit firms that are new to being regulated by the FCA. It sets out the rules and guidance that firms will need to comply with, what activities need authorisation, ongoing supervision and the enforcement powers which may be used.

Applications to the FCA can be for limited permission activities (these include, for example, consumer hire, credit broking in relation to the Green deal or not-for-profit debt counselling ) or full permission activities (these include, for example, debt counselling and debt adjusting or consumer credit lending). The guide goes into these in some detail and sets out their approach to supervision, enforcement and includes a table setting out controlled functions within consumer credit.