Skip to content

News

UK Government opens BNPL consultation

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn

Summary

The government is consulting on draft legislation to bring Buy-Now Pay-Later products into regulation.

This consultation closes at

Consultation description

On 2 February 2021, the government announced its intention to regulate interest-free Buy-Now Pay-Later (BNPL) products. The government consulted on policy options to deliver a proportionate approach to regulation in October 2021, followed by a consultation response in June 2022.

The government is now consulting on the proposed draft legislation that will bring BNPL into Financial Conduct Authority regulation. The consultation asks for stakeholders’ views on whether the draft legislation effectively delivers the policy positions set out in the government’s consultation response.

Documents

Regulation of Buy-Now Pay-Later: consultation on draft legislation

 

Buy-Now Pay-Later Draft Statutory Instrument

 

 

 

Source: Gov.uk

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn

Related Posts

financial crime compliance

The escalating costs of global financial crime compliance

The digital revolution, spearheaded by digital banking, cryptocurrency, artificial intelligence (AI), and digital payment systems, has significantly contributed to the exponential rise in global financial crime compliance costs. According to
Read More >
Safeguarding: Is your firm compliant?

Safeguarding: Is your firm compliant?

With the Financial Conduct Authority (FCA) paying more and more attention to firms safeguarding arrangements to ensure customer funds are sufficiently protected, many firms are approaching Neopay for guidance and
Read More >