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CONC - Consumer Credit Regulations

The FCA's Consumer Credit sourcebook (CONC) applies to all firms engaged in credit-related regulatory activities in the UK. This includes firms involved with debt counselling, credit broking and regulated credit agreements.

The general standards and principles outlined by CONC place a duty on firms to uphold the interests of their customers and ensure their fair treatment.

Our CONC - Consumer Credit Regulations Course explains the FCA's Conduct of Business Rules for consumer credit firms and how these impact daily operations.

Get started Course details
  • 40 Minutes
  • All staff
  • Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary.

Learning objectives

  • Recognise the purpose of the CONC sourcebook
  • Explain what the CONC general conduct of business standards are
  • Know the procedures for financial promotions and communications
  • Know the pre-contractual and post-contractual requirements
  • Identify the tenets of responsible lending
  • Recognise the procedures for dealing with arrears, default and recovery
  • Explain customers' rights to cancel

    What can you expect your employees to learn?

Welcome

What is CONC - Consumer Credit sourcebook?

What is the purpose of CONC?

Who does CONC apply to?

  • Other businesses covered
  • Exercise: Who is affected and to what extent?

General Standards

  • General principles
  • Duty to avoid misleading names
  • Exercise: Complying with Principle 6

Financial promotions and communications

  • The main rules
  • Never suggest that credit is available unconditionally
  • A decision in seconds - really?
  • Playing by the rules
  • Exercise: Unfair business practices
  • Misleading introductions
  • Exercise: Payday loan advert
  • Risk warnings for payday loans

Pre-contractual requirements

  • Risk warnings & standard disclosures
  • Providing adequate explanations
  • Pre-contract: Unfair business practices

Responsible lending

  • Assessing creditworthiness
  • Exercise: Creditworthiness & sustainability
  • Business conduct: Unfair practices by lenders

Post-contractual requirements

  • Exercise: Nancy & her storecard

Arrears, default & recovery

  • Ensuring that business practices are fair
  • Exercise: Jack's arrears

Cancellation

  • Exercise: Identifying the right to cancel

Summary

Affirmation

Assessment

Does your company have…

Under 50 employees?

We recommend our CoreCompliance, our solution, perfect for smaller teams. Start your training immediately with pre-configured, ready-to-go courses.

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Over 50 employees?

We have a range of flexible pricing plans to suit your unique needs. Choose from off-the-shelf course libraries or a customised, bespoke approach to reach your compliance learning goals.

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Your questions, answered

Common FAQs

Are the courses SCORM-compliant?

Yes. This means they can be delivered via the Skillcast Portal or any other SCORM-compliant Learning Management System.

What other tools are needed beyond training?

A comprehensive compliance solution often needs more than just training. Alongside e-learning, tools like declarations, surveys, and registers that track compliance tasks are usually essential. Skillcast provides full support to help you set up these additional tools.

Can users only view the courses assigned to them?

No. All users can view all the courses in your Portal. Additionally, some of these courses may be mandatory, requiring completion by the given deadline.