Key differences between the CCA and FSMA regimes

Resource type: Practice note

Status: Law stated as at 10-Mar-2013

Jurisdiction: United Kingdom

The OFT's consumer credit regime under the Consumer Credit Act 1974 (CCA) and the FSA's financial services regime under the Financial Services and Markets Act 2000 (FSMA) are two very different regulatory regimes. These regulators have different statutory powers and different ways of regulating. This note outlines the key differences between the two regimes. It reflects the position as at December 2010.

Changes to the regulatory regimes under the CCA and FSMA made after December 2010 are outside the scope of this note.

PLC Financial Services

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Resource ID: 9-506-0490
Law stated date: 10-Mar-2013
Products: PLC UK Financial Services, PLC UK Public Sector

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Topics

Consumer CreditConsumer Credit (http://fs.practicallaw.com/5-103-1116)
FSMA: IntroductionFSMA: Introduction (http://fs.practicallaw.com/9-103-1355)

Practice note: overview

An overview of the UK consumer credit regime An overview of the UK consumer credit regime (http://uk.practicallaw.com/topic8-502-9749)
Approved persons regime: overview Approved persons regime: overview (http://uk.practicallaw.com/topic1-201-3397)
FSA enforcement regime: overview (superseded with effect from 1 April 2013) FSA enforcement regime: overview (superseded with effect from 1 April 2013) (http://uk.practicallaw.com/topic4-203-0442)
FSMA overview FSMA overview (http://uk.practicallaw.com/topic8-107-4005)
Hot topics: The future of the OFT and consumer credit regulation Hot topics: The future of the OFT and consumer credit regulation (http://uk.practicallaw.com/topic6-504-7481)

Practice notes

Actions for damages under FSMA Actions for damages under FSMA (http://uk.practicallaw.com/topic5-504-4195)
Applying to FCA or PRA for authorisation under Part 4A FSMA Applying to FCA or PRA for authorisation under Part 4A FSMA (http://uk.practicallaw.com/topic4-201-3386)
Appointed representatives and tied agents Appointed representatives and tied agents (http://uk.practicallaw.com/topic8-201-1210)
Consumer redress schemes: FCA powers Consumer redress schemes: FCA powers (http://uk.practicallaw.com/topic6-504-6580)
Designated professional bodies Designated professional bodies (http://uk.practicallaw.com/topic5-202-2253)
Government plans to transfer consumer credit regulation from OFT to FCA Government plans to transfer consumer credit regulation from OFT to FCA (http://uk.practicallaw.com/topic5-506-0185)

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