Consumer credit licences

The Financial Conduct Authority (FCA) takes over the regulation of consumer credit from the Office of Fair Trading in April 2014, http://www.oft.gov.uk/OFTwork/credit-licensing/credit-changes/.

All existing consumer credit licences expire on 31st March 2014 with no automatic conversion to FCA authorisation. Bates Wells Braithwaite Solicitors gives a reminder that businesses supplying goods on credit normally require a licence.