{"id":365943,"date":"2025-08-23T00:28:21","date_gmt":"2025-08-23T00:28:21","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/365943\/"},"modified":"2025-08-23T00:28:21","modified_gmt":"2025-08-23T00:28:21","slug":"finreg-in-the-know-consumer-finance-financial-services","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/365943\/","title":{"rendered":"FinReg – In The Know: Consumer Finance – Financial Services"},"content":{"rendered":"

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AG<\/p>\n

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Addleshaw Goddard<\/p>\n


\n <\/a><\/p>\n

More<\/p>\n


\n <\/p>\n


\n \"Addleshaw
\n <\/a><\/p>\n

Addleshaw Goddard is an international law firm, almost 250 years in the making. We’re trusted by over 5000 organisations, including 50 FTSE 100 companies, to solve problems, deliver deals, defend rights, comply with regulations and mitigate risk. Our work spans more than 50 areas of business law for clients across multiple industries in over 100 countries worldwide. And while the challenges our clients bring us may vary, we approach and solve them with the same, single-minded focus: finding the smartest way to achieve the biggest impact.<\/strong><\/p>\n

<\/p>\n


\n Last month was significant for developments in financial services with the announcement of the Leeds Reforms and the Chancellor’s Mansion House speech. \n <\/p>\n


\n United Kingdom
\n Finance and Banking \n <\/p>\n


\n To print this article, all you need is to be registered or login on Mondaq.com. \n <\/p>\n

Last month was significant for developments in financial
\nservices with the announcement of the Leeds Reforms and the
\nChancellor’s Mansion House speech. The Leeds Reforms mentioned
\nradical changes in the UK mortgage regime to facilitate sustainable
\nhome ownership and enhance access for mortgage borrowers in line
\nwith the Government’s growth agenda for financial services. In
\nthis issue we discuss some of these reforms and relevant
\nconsiderations for firms to assess how these changes may impact
\ntheir systems and processes for mortgage lending. This newsletter
\nalso covers an update on the upcoming regulation of Buy Now Pay
\nLater (BNPL) including the recent consultation from the Financial
\nConduct Authority setting out the proposed regulatory regime for
\nBNPL. Last but not the least, we share our insights into the
\nlandmark Motor Commission Supreme Court Judgment – Hopcraft and
\nanother v Close Brothers Limited where we explore the judgment
\nin greater detail, including key takeaways, broader implications,
\nand the potential impact on future motor finance litigation.<\/p>\n

\"1668912<\/p>\n

Mortgage reforms to boost sustainable home ownership and
\naccess<\/p>\n

Last month was significant for developments in financial
\nservices with the announcement of the Leeds Reforms and the
\nChancellor’s Mansion House speech. The Leeds Reforms mentioned
\nradical changes in the UK mortgage regime to facilitate sustainable
\nhome ownership and enhance access for mortgage borrowers in line
\nwith the Government’s growth agenda for financial services. In
\nthis issue we discuss some of these reforms and relevant
\nconsiderations for firms to assess how these changes may impact
\ntheir systems and processes for mortgage lending.<\/p>\n

Read our insights on these key reforms and
\npossible impacts on relevant firms<\/a><\/p>\n

Regulation of Buy Now Pay Later and FCA consultation<\/p>\n

Significant progress has been made in the last two months in
\nshaping the regulation of Buy Now Pay Later (BNPL). The Government
\npassed legislation on 14 July to bring Deferred Payment Credit
\n(DPC), commonly known as BNPL, under regulation starting 15 July
\n2026 for third-party lenders, and on 18 July the Financial Conduct
\nAuthority (FCA) published a Consultation Paper (CP25\/23) on the
\nproposed regulatory regime for BNPL.<\/p>\n

Read more here on the FCA’s proposed regime
\nfor BNPL and the upcoming milestones<\/a><\/p>\n

Motor Commission Supreme Court Judgment – Hopcraft and another
\nv Close Brothers Limited<\/p>\n

On Friday 1 August, the UK Supreme Court handed down its
\nlong-awaited judgment in the conjoined appeals of Hopcraft v
\nClose Brothers, Johnson v FirstRand Bank t\/a MotoNovo Finance, and
\nWrench v FirstRand Bank t\/a MotoNovo Finance ([2025] UKSC 33).
\nThe Court held that car dealers arranging motor finance do not owe
\nfiduciary duties to customers, meaning lenders are not liable for
\nbribery or dishonest assistance. However, undisclosed commissions
\nmay still render agreements unfair under section 140A of the
\nConsumer Credit Act, depending on the facts. In our p below, we
\nexplore the judgment in greater detail, including key takeaways,
\nbroader implications, and the potential impact on future motor
\nfinance litigation.<\/p>\n

Read our key insights into the judgment here and
\nthe possible impacts on financial services and future motor finance
\nlitigation<\/a><\/p>\n

The content of this article is intended to provide a general
\nguide to the subject matter. Specialist advice should be sought
\nabout your specific circumstances.<\/p>\n","protected":false},"excerpt":{"rendered":" AG Addleshaw Goddard More Addleshaw Goddard is an international law firm,…\n","protected":false},"author":2,"featured_media":215504,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,4],"tags":[748,393,4884,1144,712,16,15,1764],"class_list":{"0":"post-365943","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-uk","8":"category-united-kingdom","9":"tag-britain","10":"tag-england","11":"tag-great-britain","12":"tag-northern-ireland","13":"tag-scotland","14":"tag-uk","15":"tag-united-kingdom","16":"tag-wales"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115075252738526196","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/365943","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=365943"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/365943\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/215504"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=365943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=365943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=365943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}