New websites for FCA & PRA rules

The UK's conduct and prudential regulators have launched new and separate websites to access their rules: see FCA Handbook and PRA Rulebook. Anyone attempting to visit the old online rulebook after this date will be redirected to the new websites. 

Financial Conduct Authority & Prudential Regulation Authority, 29 August 2015

The Consumer Contracts (Amendment) Regulations 2015

The Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 (CCRs) are amended by SI 2015/1629 with effect from 1 October 2015. The CCRs impose rules to protect consumers in relation to contracts made both on and off premises as well as those made at a distance. The amendments are in consequence of the coming into force on that date of provisions in the Consumer Rights Act 2015 (CRA) which updates statutory rights for consumers in contracts for goods and services. The CRA re-implements various obligations in the Consumer Rights Directive which until 1 October 2015 are transposed by the CCRs (e.g. with respect to delivery and risk when supplying goods)., 28 August 2015

The Consumer Rights Act 2015 (Commencement No 3, Transitional Provisions, Savings and Consequential Amendments) Order 2015

SI 2015/1630 brings Part 1 of the Consumer Rights Act 2015 into force on 1 October 2015 for goods, digital content and services, together with Part 2, which updates and consolidates the law on unfair terms in consumer contracts. The measure also contains transitional and savings provisions. In particular, it provides that the current law on unfair terms will continue to have effect in relation to any contract or notice communicated to consumers prior to 1 October 2015., 28 August 2015


PRA 2015 annual assessment of category 5 credit unions

The Prudential Regulation Authority has completed its annual assessment of category 5 credit unions and has written to each credit union with its findings. 

Bank of England: PRA, 24 August 2015 

BBA figures for the high street banks – July 2015

The British Bankers Association has published July statistics for high street banks which finds a 12% increase on re-mortgages compared to the previous year, its highest level for 4 years. 

British Bankers Association, 26 August 2015 

House purchase lending in London comes out of the seasonal dip but down on last year 

The Council of Mortgage Lenders has published data on the characteristics of lending in Greater London in the second quarter of 2015. It has found home-owner purchase activity coming out of the traditional seasonal dip to show growth in the second quarter by volume and value, but levels are still down compared to last year. 

Council of Mortgage Lenders, 26 August 2015