Regulation news: page 6
- April 2025
Minister signs off final stage Impact Assessment for BNPL regulation
The responsible minister signed the final stage impact assessment for buy now, pay later regulation on 28 April 2025, setting out costs to firms and planned consumer protections.
Deadline for PSPs to amend consumer terms and conditions to reflect reimbursement rights
The Payment Systems Regulator has confirmed that payment firms had until 9 April 2025 to update consumer contracts to reflect authorised push payment scam reimbursement rights introduced in October 2024.
CMA publishes guidance on its approach to direct consumer protection
The Competition and Markets Authority has published a 19-page document setting out how it will approach direct consumer protection under the new consumer protection regime.
Schedule 20 banned commercial practices come into force
Thirty-two commercial practices listed in Schedule 20 of the Digital Markets, Competition and Consumers Act 2024 became unfair in all circumstances on 6 April 2025, under commencement regulations S.I. 2025/272.
CMA gains direct consumer enforcement powers
The CMA has opened an investigation into Microsoft 365 subscription changes, using consumer enforcement powers it has held since April 2025 to decide whether consumer law was breached.
Energy price cap rises to £1,849 for typical dual-fuel consumer
Ofgem's energy price cap rose 6.4% on 1 April 2025, taking the typical dual-fuel bill to £1,849 a year, as water, council tax and rail costs also increased.
- March 2025
PRA consults on raising FSCS deposit protection limit to £110,000
The Prudential Regulation Authority has proposed raising the FSCS deposit protection limit from £85,000 to £110,000 from 1 December 2025, with a higher limit for temporary high balances.
OBR to publish updated economic and fiscal forecasts
The Office for Budget Responsibility was due to publish updated economic and fiscal forecasts on 26 March 2025, with attention on the Chancellor's fiscal rule and planned cuts to disability benefits.
HM Treasury announces review of the Financial Ombudsman Service
HM Treasury has announced a review of the Financial Ombudsman Service, including its compensation practices, as the service consults on replacing its long-standing 8% interest rate on awards.
Stage 3 public consultation opens on proposals to reshape the regime
The independent Stage 3 review of Scotland's statutory debt solutions has published its final report, setting out 52 recommendations for Scottish Ministers after a consultation that ran from 12 March to 4 June 2025.
Final report of card scheme and processing fees market review published
The Payment Systems Regulator has published the final report of its market review into card scheme and processing fees, finding Mastercard and Visa raised core fees by at least 25% since 2017.
2025 Spring Statement balances the books largely through social security cuts
The Chancellor closed a £4.1 billion shortfall in the 2025 Spring Statement mainly through social security cuts, with no fresh tax rises, according to Resolution Foundation analysis.
Consultation on statutory debt solutions held
An independent review of Scotland's statutory debt solutions has published 52 recommendations after a March 2025 consultation, with the Scottish Government to respond after the Parliamentary Election.
Government confirms DRD restart in Spring Statement
The government confirmed in the Spring Statement that HMRC will restart its Direct Recovery of Debts power, taking unpaid tax directly from bank accounts and cash Isas.
PRA consults on proposed increase to deposit compensation limit
The Prudential Regulation Authority consulted in March 2025 on raising the deposit compensation limit, and the FSCS now confirms the limit rose to £120,000 on 1 December 2025.
PRA consults on raising FSCS deposit protection limit from £85,000 to £110,000 and THB limit from £1 million to £1.4 million
The Prudential Regulation Authority has proposed raising FSCS deposit protection from £85,000 to £110,000 and the temporary high balance limit from £1 million to £1.4 million, both from 1 December 2025.
Treasury Committee finds nine top banks had at least 33 days of outages over two years
The Treasury Committee has written to Lloyds Banking Group over an IT glitch that let some customers see other people's account information, and has restated its earlier finding on bank outages.
- February 2025
Government consults on removing the high cost to heat threshold for the Warm Home Discount in England and Wales
The government is consulting on removing the high cost to heat threshold for the Warm Home Discount in England and Wales, which would make all households on means-tested benefits eligible for the £150 rebate.
Consultation closed on permitted insurance fees
A government consultation on permitted insurance fees for landlords, freeholders and property managing agents in England and Wales closed at 11:59pm on 24 February 2025, with a response published later.
Consumer Scotland publishes response to Ofgem energy debt relief consultation
Consumer Scotland has published its response to Ofgem's consultation on a debt relief scheme for energy customers, warning that nearly half of those in energy debt doubt they can clear it.
Government lays legislation confirming new National Living Wage and National Minimum Wage rates from 1 April 2025
The government has laid legislation confirming a National Living Wage of £12.21 an hour for those aged 21 and over, and a National Minimum Wage of £10.00 for 18 to 20 year olds, from 1 April 2025.
IFS report warns small pension pots risk being lost or eroded by charges
The Institute for Fiscal Studies has warned that millions of small deferred pension pots risk being lost or eroded by charges, and has recommended automatic consolidation of pots under £1,000.
Which? responds to FCA Targeted Support pensions consultation opposing the proposals
Which? has told the Financial Conduct Authority it cannot support the regulator's proposed Targeted Support regime for pensions, citing three concerns and making three recommendations.
- January 2025
Debt Advice and Information Package required for diligence on the dependence warrants
From 20 January 2025 creditors in Scotland must give a Debt Advice and Information Package before applying for a warrant for diligence on the dependence, under rules covering enforcement against debtors.
Government introduces fraud and error legislation
The Public Authorities (Fraud, Error and Recovery) Bill was introduced to Parliament in January 2025, giving the Department for Work and Pensions new powers to verify eligibility and gather information.
Gwahardd nodweddion casino ar-lein uchel risg
Online casino features that give players the illusion of control, including turbo, slam stops and autoplay, are banned from 17 January 2025 under Gambling Commission measures.
- December 2024
FCA introduces modified complaint handling rules for motor finance commission complaints
The FCA has added rules to its complaints rulebook applying modified complaint handling requirements to motor finance commission complaints, effective 20 December 2024.
FCA announces temporary rules on motor finance commission complaints
The FCA has extended temporary complaint handling rules so firms have longer to answer motor finance commission complaints and consumers have longer to take cases to the ombudsman.
Consultation launched on permitted insurance fees for landlords, freeholders and property managing agents
The UK and Welsh governments have set out plans to replace opaque buildings insurance commissions paid by leaseholders with a permitted insurance fee, under powers in the Leasehold and Freehold Reform Act 2024.
CRM Code wound down as statutory APP fraud reimbursement scheme introduced
The Lending Standards Board has confirmed that its Contingent Reimbursement Model Code ran from 2019 to 2024 and was wound down when the Payment Systems Regulator introduced statutory mandatory reimbursement for authorised push payment fraud.