The FCA today published its finalised guidance report FG16/4: Guidance on Small and Medium Sized Business (Credit Information) Regulations. The purpose of the guidance is to explain the scope of our functions in relation to Regulations. It will be of interest to banks and credit reference agencies (CRAs) designated by HM Treasury under the Regulations, small and medium sized businesses (SMEs) seeking finance, and alternative finance providers.
In June 2015 the FCA consulted on guidance explaining the scope of our functions in relation to the Regulations, which require the regulator to monitor and enforce relevant requirements. This Finalised Guidance is relevant to banks and credit reference agencies designated by HM Treasury under the Regulations, small and medium sized businesses seeking finance, and alternative finance providers and comes into force on 1st April 2016.
The FCA statement and the full report can be found here.