The FCA has published a set of directions and a notification form for firms wishing to enter the Temporary Permissions Regime for the newly regulated deferred payment credit activities. As a reminder, the new regulated activity takes effect on 15 July. Anyone already carrying on the activity before that date may carry on operating after it while their full application is assessed, but only if they have entered the TPR. Firms can sign up to the TPR from 15 May by completing a notification form and paying a fee of £280. Sign up for the regime closes on 1 July.
FCA makes BNPL temporary permission directions
