Keeping on top of the latest financial services regulatory & compliance trends?

Investing time in your professional development within a rapidly changing financial services industry is challenging. To meet that challenge, the Australian regulators weekly wrap is designed to keep you at forefront of your practice by quickly setting out the top 5 developments from the past week, analysis and practical considerations for the future.

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Thought for the future: the UK FCA has announced that buy-now-pay-later products are to be regulated be regulated. The announcement comes as a review of the unsecured credit market recommends bringing interest-free buy-now-pay-later into FCA supervision. UK legislation will be forthcoming soon. It will be interesting to see what happen in other jurisdictions, in particular (with thanks to a friend who gave me the heads up) in NZ where a BNPL Code of Practice is well progressed and in the US given the new Biden administration and related CFPB shake-up.

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