keep The Financial Services and Markets Act 2000 (Miscellaneous Provisions) Order 2015
This Order makes miscellaneous amendments to the Financial Services and Markets Act 2000 and related Orders. It clarifies definitions for 'domestic premises supplier' in threshold conditions, modifies exemptions for legal professionals carrying on credit broking and other regulated activities, revises definitions of 'exempt agreements' in consumer credit regulations, and updates the scope of credit broking activities subject to regulation. The changes primarily provide technical corrections and definitional clarifications to the existing regulatory framework.
While Better Britain generally seeks to reduce regulatory burden, this Order primarily contains technical clarifications and definitional adjustments that do not significantly expand regulatory scope. The expanded exemptions for legal professionals in credit broking and related activities are narrowly targeted and may modestly reduce compliance costs for those services. The unseen costs of deletion would include regulatory uncertainty and potential gaps in the definition of exempt credit agreements, which could harm consumer understanding of their rights and protections under existing law. The modifications represent housekeeping rather than new regulatory expansion.