Members will be aware that last year, the government and the FCA consulted upon changes to the SM&CR.

On 22 April, the FCA’s issued its Policy Statement following the consultation. The changes to SM&CR are being implemented in two phases. The FCA’s Policy Statement brings in changes for phase 1, which are effectively immediately and some changes which are effective from 10 July 2026.

We have compiled a short guidance paper to highlight the changes for Phase 1.

Phase 2 reforms are still being considered, some of which will require changes to legislation. We will update members as and when these changes are introduced.

In light of the FCA’s commission redress scheme, and following our motor finance roundtable in April, members expressed interest in hearing about products and services provided by associate members, which can assist with aspects of the redress scheme.

As such, we have compiled a brochure of products and services from our associate members. The publication is available from the Activity Feed in the Member Hub.

It is important to note that the FCA’s redress scheme has been legally challenged by four entities. Depending on the outcomes of these challenges, there may potentially be a shift in the requirements and/or the scope of the redress scheme. Updates are expected from the FCA very soon. CCTA will continue to liaise with the FCA and update members on any developments.

Over the last four months, we have been collecting details of legislation, regulatory updates and other announcements we think may be of interest to members.

This member exclusive publication is designed to provide an essential ‘easy read’.

From September 20026, the FCA brings in new requirements around non-financial misconduct (NFM) in financial services. To align non-banks with standards in banking firms, firms will be expected to consider NFM for employees in financial services roles. The FCA aims to ensure that firms foster psychologically safe workplaces, helping to improve the UK financial sector’s reputation, strengthening its access to global talent and increasing market and consumer confidence.

This roundtable will cover points firms need to understand around addressing NFM. We will also provide a guidance paper to support firms with the new expectations.

Welcome to the first edition of CCTA Magazine for 2026.

The year is shaping up to be another significant one for the consumer credit sector. A combination of major regulatory developments and wider market pressures continues to reshape how firms operate and how consumers access credit. In this edition, we focus on several of the most important areas that will define the months ahead.