Financial Services Act - The UK’s departure from the EU at the end of the transition period has significant implications for the regulation of financial institutions. In June 2020, the.
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The Woolard Review team has acted swiftly in publishing their recommendations to the FCA, publishing their findings just over two months after the initial Call for Input closed. The Review contains a number of recommendations on how to improve the unsecured lending market, though much of the detail on how these outcomes should be implemented is left to the FCA. The industry is likely to have mixed reactions to the Review, with many reserving judgment until there is more clarity on how it will impact the regulatory regime and how exactly this will affect lenders.