Call for Input published
02/11/2020
Call for Input closed
01/12/2020
Woolard Review published
02/02/2021
02/02/2021
The FCA Board asked Christopher Woolard CBE, former Interim Chief Executive, to conduct a review of change and innovation in the unsecured credit market. This is his report, including recommendations for the FCA and Government.
The Review sets out recommendations to the FCA, Government and other bodies. These include:
The Review was announced in September 2020. Details of the Review were published in October and issued a Call for Input in early November 2020.
The Review has heard a range of evidence from consumers, firms, Government and others to assess the impacts and implications of any changes in the market. The Review was assisted by an Advisory Panel.
We have considered and accepted the recommendations of the Review directed to the FCA. Ensuring consumer credit markets work well is one of our five key priorities. We will build the Review’s recommendations into our business planning and will give further details of our response to the Review when our next Business Plan is published in April 2021. Where recommendations are directed at others, the FCA has urged them to act on the Review’s findings.
We will report on progress in a year’s time.