Following the 2021 Woolard Review on the regulation of buy-now-pay-later (BNPL) products, HM Treasury has published its consultation on the draft legislation that will bring these easily available interest-free products within the regulatory perimeter.
As expected, the proposal is for the BNPL regime to be lighter and less prescriptive than that in place for other types of regulated credit. However, it still signals a significant change for some lenders who, up to now, have operated outside the UK’s authorisations regime.
In this webinar, A&O Shearman will examine the proposed changes, how they fit into the wider UK retail credit landscape, what the Temporary Permissions Regime is likely to mean for lenders and merchants, and the areas in which lenders and others might want to engage with the FCA as it formulates the new rules for the conduct of business, regulatory reporting, and complaints handling, among other things.
Register for our deep dive webinar here: https://comms.aoshearman.com/12/17442/landing-pages/rsvp-blank.asp
Jean Price
Mercy Hadfield
Nikki Johnstone
The Payments Association
St Clement’s House
27 Clements Lane
London EC4N 7AE
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