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Snug Sofas - not getting my sofa or a refund!
Comments
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https://www.which.co.uk/news/article/buy-now-pay-later-regulation-6-things-you-need-to-know-about-the-plans-aZOTN1O0VSoMstitchmaker85 said:This is direct from the Government Website:"Offering credit to consumers: the law
You must be authorised by the Financial Conduct Authority (FCA) to offer credit to consumers"
So how are DivideBuy getting around this? They are a UK registered company, I'm so confused.
Because the regulations have not been changed as yet. Governments move very slowly
>>Unfortunately, these plans will take a while to kick in - the government says draft legislation will be published towards the end of the year, followed by secondary legislation by mid-2023, after which the FCA will run a consultation.<<
So might be looking at 2024 or 25 before anything gets passed into law.Life in the slow lane0
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