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
PDF, 252 KB, 45 pages
Buy-Now Pay-Later Draft Statutory Instrument
PDF, 201 KB, 9 pages
Source: Gov.uk