The 30 April and 31 July 2023 Consumer Duty deadlines are fast approaching. This means there is a very short period of time for firms to get ready and hit these milestones. With this in mind, Auxillias has developed a Consumer Duty Toolkit to help lenders and brokers prepare for the implementation of Consumer Duty in their businesses.

Our second Consumer Duty bulletin focuses on a critical issue that manufacturers must tackle in relation to their distribution chains: the identification of co-manufacturers. It looks at the challenges and how to meet them head on, what factors should be considered, how to record a justification and why it is important to get the correct contractual position in place by the implementation deadline. Download your copy!

The claims management regulator’s responsibilities – which lie within the FCA Handbook under Conduct of Business sourcebook – passed over to the Financial Conduct Authority (FCA) on 1 April 2019, and this has recently been tested in the case of SafetyNet v Impakt. Te case is still with the High Court to decide on the outcome and the result is eagerly awaited by lenders and, no doubt, CMCs. We provide our summary here.

Our first Consumer Duty bulletin - focusing on delivery - looks at what manufacturers should do to be ready for the 30 April 2023 milestone, it reminds you how important it is to define your thinking on what a 'good outcome' is for customers as well as explaining why distributors should be talked to now by their manufacturers and how board involvement should be active and evidenced.  Download your copy!

Auxillias today announced that its first Helping Hands forum was well received by attendees, with everyone saying that it was very useful to discuss pressing topics with their peers. Find out here when the next session is and join us!

This newsletter is jam-packed, providing insight into a variety of topics -  including the government’s plans to reform the Consumer Credit Act, the FCA’s approach to compromises for regulated firms, the tougher rules it has put in place for appointed representatives and the new Consumer Duty.

Auxillias today launches Helping Hands, its new platform to help firms achieve legal and compliance excellence. The plan is for Helping Hands to kick-off with a bi-monthly virtual meeting on Zoom supported by a flagship annual conference. If you are interested in attending, read on…

The FCA has published a “Dear Chair” letter as a result of its review into SME collections and recoveries. The letter highlights its concerns and expectations. Later this year, the FCA will finalise any rules in relation to the New Consumer Duty, but it is not waiting for the Duty to come in before it acts to improve consumer outcomes.

The summer edition of our InCredit newsletter is now available for you to download. It's a jam-packed issue that focuses on a number of topics, including the future changes to the Consumer Credit Act, new FCA requirements on D&I and inclusion and a financial promotions warning.

HM Treasury will launch a consultation on the direction of the reform by the end of 2022. It is expected to be published by the end of the year and stakeholders view will be sought on the matter

We are delighted to announce the appointment of Simon Tattersfield as a board adviser. He will be working closely with Auxillias, supporting it with its three-year strategy and overseeing the product and client development activities, particularly in the motor industry. 

The spring edition of our InCredit newsletter is now available for you to download in full. It's a jam-packed issue that focuses on a number of topics, including the fast approaching operational resilience requirements deadline.

To mark #IWD2022, we have asked four women in the Auxillias business what their story is and what International Women’s Day means to them. 

Auxillias is hiring! Are you passionate and enthusiastic about consumer credit, with a proven track record of advising on relevant regulation and consumer protection law relevant to a wide range of consumer credit and lending products? Do you want the opportunity to progress in your career as part of a new and innovative law firm that works on a client service basis rather than chargeable hours targets?

This winter we focus on a whole host of topics including the FCA’s power of New Cancellation and Variations, FCA climate change adaptation report , AML reform for Open Banking payment service providers, proposed reforms to consumer law and enforcement, new GDPR reforms for the UK and much more!

Auxillias today announced that Jo Davis, its CEO, has retained her Band 2 individual ranking in the Consumer Finance category of the 2022 edition of Chambers UK.  In addition to this, Auxillias has also been highly commended in the ‘Best Law Firm’ category of the Car Finance awards.

Auxillias today announced that it has hired two experts which will enable the business to strengthen its legal, governance and compliance services offering as one solution to its clients. The appointment of Simon Brown as director of compliance and training and Carrie Stephenson as director of legal and governance, is in line with the firm’s strategy of continuing to respond to client feedback and providing an offering which meets their demands.

This summer we focus on a whole host of topics including the Consumer Credit Directive, financial services complaints, e-Money, facial recognition technology and the FCA's guidance for insolvency practitioners. We have also included a special feature supplement on the Senior Managers and Certification Regime (SM&CR).

Auxillias today announced that it has hit its first business milestone – 12 months since it was first launched. During this time, the two founders – CEO Jo Davis and COO Daksha Mistry – have built up a strong client base and have been involved in some very interesting legal and compliance projects.

April / May 2021 | Financial Promotions | Diversity and Inclusion | Buy Now, Pay Later | Dear CEO Letter | FCA Fines Report

This month we focus on:

• Taking care with your financial promotions

• How the FCA intends to start asking tough questions on diversity and inclusion

• An update on buy-now-pay-later credit

• An FCA Dear CEO letter to third party finance providers

• An update on the FCA fine report