Ian Norman

Partner | Consumer Credit

Articles by Ian Norman

Consumer Buy to Let

Consumer Buy to Let As a result of the government’s implementation of the Mortgage Credit Directive (MCD), there have been changes to how buy-to-let activity is regulated. The FCA are adding a
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PRA sets out Buy to Let Lending Norms

PRA sets out Buy to Let Lending Norms The Prudential Regulation Authority (PRA) published a consultation paper on 29 March (CP11/16) which seeks the industry’s comments on a supervisory statement
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Amendments to Rules on Loan to Income Ratios in Mortgage Lending

Amendments to Rules on Loan to Income Ratios in Mortgage Lending The Prudential Regulation Authority (PRA) have published a policy statement in March 2016 (PS11/16) which sets out final rules to
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FCA Consults on PPI complaint Handling in the wake of Supreme Court Decision in Plevin

  The Financial Conduct Authority (FCA) released a statement on Payment Protection Insurance (PPI) on 2 October 2015. It outlines its intentions following the seminal decision of the Supreme
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Attention Mortgagees: Changes to Mortgage Repossession Pre-Action Protocol Forms

Mortgagees should be aware that from 5 October 2015 new versions of forms N120 (Particulars of Claim for Mortgages Residential Premises) and N123 (Mortgage Pre-action Protocol Checklist) have been
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Plevin Decision to Face FCA Scrutiny

The Financial Conduct Authority (FCA) is considering whether further rules and/or guidance are required to deal with the outcome of the decision of the Supreme Court in Plevin v Paragon Finance
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The Changes to FCA Guidance: Complaints Handling

In compliance with the EU Alternative Dispute Directive, the Financial Conduct Authority (FCA) have published new rules on complaints handling for financial services firms and limiting the cost of
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SPVs – A New Way Forward Under Regulation

As those involved in consumer credit are well aware, the Office of Fair Trading (OFT) closed its doors on 31 March 2014 and on 1 April 2014 a new more rigorous era of regulation dawned under the
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Trust Me It’s A Charge… An Equitable Charge

Bank of Scotland –v- Waugh & Ors [2014] EWHC 2117 (Ch) The Facts Bank of Scotland made a loan to a Trust in 2003 secured by a legal charge over a property owned by the Trust. The document
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Back to the Future - Electronic Signatures & the Consumer Credit Act 1974

The Consumer Credit Act 1974 was amended in 2004 to allow for electronic signatures. Those amendments came four years after the passing of the Electronic Communications Act 2000. Slowly but surely
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The FCA: Proposed Approach to Supervision

Our last article in this series on the proposed new regulation of the Consumer Credit sector looked at the Principles for Businesses which the FCA will require every authorised firm to adhere to
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The Journey to the FCA: The Principles for Businesses

This series of bulletins has been examining the FSA's proposals for FCA regulation of the consumer credit industry as put forward in their consultation paper CP13/7 Consumer Credit ("the
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Presentation by Ian Norman to the Institute of Credit Management Secured Lending Group

A transcript of the presentation made by Consumer Credit partner Ian Norman to the Institute of Credit Management Secured Lending Group: Good morning ladies and gentlemen. It is a pleasure to be
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The Appointed Representatives Regime

In our previous bulletin we looked at the proposed requirements for authorisation by the FCA in respect of firms providing regulated consumer credit activities and the timescale by which firms
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The FCA: Proposed Approach to Enforcement

This is our final article in our series on the road to FCA regulation and in particular, the proposals in the FSA's consultation paper CP13/7.  In this bulletin, we examine the FCA's powers of
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The Requirements for Authorisation by the FCA

Timescale In the previous bulletin of our series on the proposed new regulatory framework, we covered the interim permission regime and the impending demise of consumer credit licences issued
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FCA Regulation of Consumer Credit: The Interim Permissions Regime

The Timetable In our last bulletin The Timetable for Implementation and Transitional Provisions, we introduced the concept of interim permissions as set out in the FSA consultation document
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The FCA Regime: Timetable for Implementation

In our last bulletin The Proposed FCA Framework: An Overview, we looked at the structure and overall look of the new regulatory regime that will apply to consumer credit. It is intended
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Consumer Credit: The Road to FCA Regulation

Are you involved in Consumer Credit? Would you like to know how upcoming regulatory changes will impact your business? Ian Norman, Partner & Consumer Credit expert at Lightfoots LLP,
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The Proposed FCA Framework

On 6 March 2013, the FSA released its consultation paper CP13/7 CONSUMER CREDIT (the Consultation) and set out some of the structural aspects of the proposed new regime that will be brought
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