FCA updates on changes for credit unions

FCA has published a new website page on the changes the FSM Bill proposes for credit unions. It highlights to credit unions that, if the changes come into law, any firm wanting to take advantage of them will need to make any necessary rule amendments and submit them for registration with the FCA and then apply for any required permissions. The main changes will allow credit unions to enter into conditional sale agreements and hire purchase agreements, and conduct insurance distribution activities.

Emma Radmore