Jurisdiction(s):
United Kingdom

UK FCA Consumer Credit Authorisation and Ongoing Compliance Checklist for New Firms: SM&CR, SYSC, PRIN/Consumer Duty, CONC, CCA 1974, FSMA Threshold Conditions

Published by a LexisNexis Financial Services expert

Checklists

This Checklist sets out core topics for firms entering consumer credit, addressing essential management and compliance matters within the Financial Conduct Authority (FCA) framework. It organises themes such as authorisation, threshold conditions, the Senior Managers and Certification Regime (SM&CR), systems and controls, business planning, FCA Principles, the Consumer Duty and continuing regulatory duties, including adherence to the Consumer Credit sourcebook (CONC) and the Consumer Credit Act 1974 (CCA 1974). For fuller guidance, including how the application process works, see Practice Note: FCA authorisation of consumer credit firms.

Scope and regulatory status

Do the firm’s activities amount to regulated consumer credit activities under section 19 of the Financial Services and Markets Act 2000 (FSMA 2000), and the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, SI 2001/544 (RAO)? See Practice Notes: The general prohibition and implications of its breach and Regulated activities relating to consumer credit
Does the firm offer (or plan to offer) buy now pay later (BNPL)/deferred payment credit (DPC) style products? Lenders providing DPC agreements to fund purchases of goods or services from merchants (third-party lenders) will be brought within FCA regulation from 15 July 2026...

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Web page updated on 21/05/2026

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