Retail finance


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  • FCA Consultation Paper on Overdraft Reforms


    Submitted: 10 January 2019

    This article provides an overview of the FCA’s consultation paper “High-Cost Credit Review: Overdrafts consultation paper and policy statement”, setting out a timeline on how the FCA is taking this matter forward, and recommendations on what action an overdraft provider could consider taking in light of the CP’s contents.

  • VAT and hire purchase transactions


    Submitted: 18 October 2018

    The ECJ has, in providing guidance on the correct method for attributing residual VAT to hire purchase transactions, rejected the Advocate General’s suggestion that a hire purchase transaction should be treated as a single taxable supply for VAT purposes.

  • Credit provider subsidy did not reduce consideration for underlying supply of goods


    Submitted: 10 October 2018

    The consideration for a supply of goods by a retailer was the full agreed price, even where the retailer received a lower amount pursuant to a credit arrangements agreed between it and the credit provider.

  • AXA revisited: VAT exempt payments or transfers


    Submitted: 26 July 2018

    The services of a payment plan administrator in arranging for payments between dental customers and dentists was not an exempt supply of payment or transfer services but rather standard rated administrative services.

  • Liability management of fixed income products


    Submitted: 25 October 2017

    This session covers tender offers, consent solicitation, exchange offers and open market repurchase, liability management in the issuance of debt capital markets products including equity linked products and legal considerations and exchange requirements.

  • FCA Thematic Review on early arrears management in unsecured lending


    Submitted: 20 December 2016

    ​The Financial Conduct Authority (FCA) has published a report providing the findings from its Thematic Review into early arrears management in unsecured lending. The review looked at the way lenders treated customers in the early stages of arrears, and we have noted a few key takeaways which can guide a firm’s behaviour and policy.

  • FCA Advice Unit to re-open for applications on 03 January 2017


    Submitted: 19 December 2016

    The Financial Conduct Authority (FCA) Advice Unit is part of Project Innovate, which aims to encourage innovation in financial services in the interests of consumers, and is open to those already authorised as well as firms seeking authorisation. Of particular interest is the feedback from the first tranche of applications.

  • Court of Appeal finds unfair relationship where secret commission deprives borrower of broker’s independent advice


    Submitted: 17 November 2016

    An article on the Court of Appeal’s decision in Thomas Nelmes v NRAM plc [2016] which considered unfair relationships under section 140A of the Consumer Credit Act 1974.

  • Retail finance update Restricted access


    Submitted: 05 October 2016

    Change continues apace for retail finance, driven by innovation and regulation. This session looks at themes and trends in this space, including the legal considerations for digitised products, preparations for PSD2, the Consumer Rights Act one year on, and how to apply lessons of the past to products of the future.

  • Consumer unfair terms: CJEU sets out test for personal guarantees in business lending


    Submitted: 03 October 2016

    An article on the CJEU test for the application of the Unfair Terms Directive to personal guarantees and security agreements.

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