Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Consumer definition

What does Consumer mean? A consumer is, in practice, an individual who acquires goods, services or digital content for personal use, not for the purposes of a trade, business, craft or profession. The precise meaning is statutory and context‑specific. England & Wales and Scotland: The Consumer Rights Act 2015, s2(3), defines a consumer as an individual acting for purposes wholly or mainly outside their trade, business, craft or profession (capturing mixed‑purpose purchases where the business purpose is not predominant). The Unfair Contract Terms Act 1977 instead asks whether a party “deals as consumer”, a distinct test relevant to exclusion and limitation clauses. The Sale of...

FCA consumer credit regime and insolvency: permissions, exclusions, professional body exemptions, FSMA Part XX/XXIV powers, and debt recovery compliance risks (UK)

Published by a LexisNexis Restructuring & Insolvency expert

Practice notes

This Practice Note outlines Consumer credit law following the shift of regulatory supervision to the Financial Conduct Authority (FCA). It considers key changes affecting Insolvency practitioners (IPs). For further reading on consumer credit agreements, see Practice Notes: Regulated activities relating to consumer credit and The FCA consumer credit regime: an overview of rules on arrears, default and recovery...

Regulatory oversight

From 1 April 2014, oversight of consumer credit moved from the Office of Fair Trading (OFT) to the FCA. As part of this transition, the OFT licensing scheme under the Consumer Credit Act 1974 (CCA 1974) was replaced by the FCA’s authorisation regime under Part IV(A) of the Financial Services and Markets Act 2000 (FSMA 2000)...

If a firm had:

a consumer credit licence on 31 March 2014; and
applied before 1 April 2014 for interim permission under FSMA 2000 and paid the fee

it remained authorised from 1 April 2014, with a landing slot to apply for either full or limited permission. If a firm did not satisfy both of...

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Russell Kelsall

Walker Morris

Russell is a Partner at Walker Morris LLP and its Head of Consumer & Motor Finance. He leads an experienced team of non-contentious and contentious lawyers specialising in consumer, motor and asset finance. He has market-leading expertise in regulated financial products with a particular specialism in consumer credit, mortgages, payment services and savings. He is often instructed to advise on sensitive regulatory issues, including interactions with the Financial Conduct Authority and the Financial Ombudsman Service. Russell is the author of 'Consumer Credit: Law, Practice and Precedents', an editor of 'Goode: Consumer Credit Law and Practice', 'Goode: Consumer Credit Reports', ‘Butterworths Financial Regulation Service’ (on CONC, MCOB and BCOBS), ‘Asset and Project Finance’ (on equipment leasing) and ‘Practical Lending and Security Precedents’ (on debentures). Industry guides describe him as an "expert in the industry who knows exactly what to do in any given...

Ms Caroline Castle

Pinsent Masons

Caroline Castle is a Practice Development Lawyer in the Restructuring and Insolvency practice at Pinsent Masons in Leeds. Her particular expertise covers a wide variety of non-contentious and contentious restructuring, recoveries and insolvency work including distressed business and property disposals, lender security reviews and enhancement and business support. ...

Web page updated on 21/05/2026

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