FCA calls for input on Woolard Review

Regulatory Updates | 02/11/20

The Financial Conduct Authority (FCA) has issued a Call for Input: Review into change and innovation in the unsecured credit market (the Woolard Review). In September 2020 the FCA’s Board asked outgoing CEO Chris Woolard to conduct a review into change and innovation in the unsecured consumer credit market, and how regulation can support a healthy unsecured consumer credit market. The structure of the call for input follows the four themes of the review:

• drivers and use of credit
• change and innovation in the supply of credit
• the role of regulation in unsecured credit markets
• the impact of COVID-19 and the FCA’s response.

The FCA asks for comments by 1 December 2020, which will be considered as part of the final report of the Woolard Review, due early in 2021.