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Russell Kelsall#2436

Russell Kelsall

Solicitor, Partner, Walker Morris
Russell is a Partner at Walker Morris LLP and its Head of Consumer & Motor Finance. He leads an experienced team of non-contentious and contentious lawyers specialising in consumer, motor and asset finance. He has market-leading expertise in regulated financial products with a particular specialism in consumer credit, mortgages, payment services and savings. He is often instructed to advise on sensitive regulatory issues, including interactions with the Financial Conduct Authority and the Financial Ombudsman Service. 

Russell is the author of 'Consumer Credit: Law, Practice and Precedents', an editor of 'Goode: Consumer Credit Law and Practice', 'Goode: Consumer Credit Reports', ‘Butterworths Financial Regulation Service’ (on CONC, MCOB and BCOBS), ‘Asset and Project Finance’ (on equipment leasing) and ‘Practical Lending and Security Precedents’ (on debentures). 

Industry guides describe him as an "expert in the industry who knows exactly what to do in any given situation", being "very clued-up and able to give advice in a succinct, practical way”, having an "in-depth knowledge of the Consumer Credit Act", being "very competent in the consumer finance area" and being a "shockingly clever consumer credit expert".

Russell is retained by the Finance & Leasing Association to provide training to its members and has recently (a) advised the FLA on its lobbying of HM Treasury for changes to the regulation of consumer credit (including the need for emergency legislation) and (b) been instructed by the FLA to review best practice guidance for the industry.

Contributed to

15

Cancellation and withdrawal provisions for consumer credit and hire agreements
Cancellation and withdrawal provisions for consumer credit and hire agreements
Practice notes

This Practice Note considers the impact of distance selling on credit agreements regulated by the Consumer Credit Act 1974 (CCA 1974) and consumer hire agreements regulated by the CCA 1974. In both cases, it is assumed such agreements are not secured on land, or used to help buy land.

Consumer credit law for insolvency practitioners
Consumer credit law for insolvency practitioners
Practice notes

This Practice Note, produced in partnership with Russell Kelsall of TLT LLP and Caroline Castle of Pinsent Masons, looks at how the Financial Conduct Authority regulates consumer credit licences, which consumer credit activities are covered, what activities insolvency practitioners or office-holders may need a consumer credit license for, what interim permission is, which exemptions are relevant plus practical points to consider.

Are there are any consultation papers or proposals for amending the Consumer Credit Act 1974 in relation to notices of sums in arrears in light of the Financial Conduct Authority’s final guidance for payment holidays regarding hire purchase agreements?
Are there are any consultation papers or proposals for amending the Consumer Credit Act 1974 in relation to notices of sums in arrears in light of the Financial Conduct Authority’s final guidance for payment holidays regarding hire purchase agreements?
Q&As
Can a debtor be forced to pay for a bill which was bought by the debt agency from a credit card company, even though on the credit agreement it states that the debt cannot be sold to a third party?
Can a debtor be forced to pay for a bill which was bought by the debt agency from a credit card company, even though on the credit agreement it states that the debt cannot be sold to a third party?
Q&As
Does the Consumer Credit Act 1974 (CCA 1974) require notice of an interest rate change on a loan agreement secured on land to be given a certain number of days before the rate takes effect? If not, has it ever done so? Did the CCA 1974 previously require a certain number of days notice to be given or has this requirement been removed for agreements which pre-date its removal?
Does the Consumer Credit Act 1974 (CCA 1974) require notice of an interest rate change on a loan agreement secured on land to be given a certain number of days before the rate takes effect? If not, has it ever done so? Did the CCA 1974 previously require a certain number of days notice to be given or has this requirement been removed for agreements which pre-date its removal?
Q&As
Following the implementations of the Mortgage Credit Directive on 21 March 2016, and given that existing Consumer Credit Act 1974 (CCA 1974) regulated mortgages are now regulated by the Mortgage Code of Business Regulations and not the Consumer Credit Sourcebook; are borrowers still able to request a time order under CCA 1974, ss 129 and 135?
Following the implementations of the Mortgage Credit Directive on 21 March 2016, and given that existing Consumer Credit Act 1974 (CCA 1974) regulated mortgages are now regulated by the Mortgage Code of Business Regulations and not the Consumer Credit Sourcebook; are borrowers still able to request a time order under CCA 1974, ss 129 and 135?
Q&As
If a Consumer Credit Act 1974 (CCA 1974) secured loan is modified post 31 October 2004, will it become a regulated mortgage contract? Will the original CCA 1974 agreement be of any effect?
If a Consumer Credit Act 1974 (CCA 1974) secured loan is modified post 31 October 2004, will it become a regulated mortgage contract? Will the original CCA 1974 agreement be of any effect?
Q&As
If a law firm acts for a consumer client and the client has an individual guarantor giving a personal guarantee for the client's legal fees, is that guarantee agreement subject to any legislation or regulatory requirements?
If a law firm acts for a consumer client and the client has an individual guarantor giving a personal guarantee for the client's legal fees, is that guarantee agreement subject to any legislation or regulatory requirements?
Q&As
If an individual lends a sum of money (£40,000) to a friend to assist in the purchase of a property and there is no written agreement in respect of that loan, would the loan be caught by the CCA and would the individual lending the money need to be FCA approved?
If an individual lends a sum of money (£40,000) to a friend to assist in the purchase of a property and there is no written agreement in respect of that loan, would the loan be caught by the CCA and would the individual lending the money need to be FCA approved?
Q&As
Is a modifying or new agreement required where a lender agrees to extend the term over which a Regulated Consumer Credit Agreement is to be paid by way of forbearance?
Is a modifying or new agreement required where a lender agrees to extend the term over which a Regulated Consumer Credit Agreement is to be paid by way of forbearance?
Q&As
Is it permissible to have joint bank accounts for up to five users? If so, is there any legislation governing it? Alternatively, if this is not possible and it is only allowed for up to two people to have a joint bank account, can you point me in the direction of the relevant legislation?
Is it permissible to have joint bank accounts for up to five users? If so, is there any legislation governing it? Alternatively, if this is not possible and it is only allowed for up to two people to have a joint bank account, can you point me in the direction of the relevant legislation?
Q&As
On 24 April 2020, the Financial Conduct Authority confirmed a further package of targeted temporary measures to help people with some of additional consumer credit and consumer hire products relating to motor finance, high-cost short-term credit, rent-to-own, fixed-sum credit buy-now pay-later and pawnbroking agreements. What are the implications of the measures?
On 24 April 2020, the Financial Conduct Authority confirmed a further package of targeted temporary measures to help people with some of additional consumer credit and consumer hire products relating to motor finance, high-cost short-term credit, rent-to-own, fixed-sum credit buy-now pay-later and pawnbroking agreements. What are the implications of the measures?
Q&As
On 9 April 2020, the Financial Conduct Authority confirmed a package of targeted temporary measures to help people with some of the most commonly used consumer credit products. What are the implications of the measures?
On 9 April 2020, the Financial Conduct Authority confirmed a package of targeted temporary measures to help people with some of the most commonly used consumer credit products. What are the implications of the measures?
Q&As
Where a lender is required to send notices of sums in arrears on a fixed sum loan under section 86B of the Consumer Credit Act 1974 (CCA 1974) and the customer clears the arrears but leaves default sums outstanding, is the lender required to keep sending subsequent notices of sums in arrears under CCA 1974, s 86B(5)(b)?
Where a lender is required to send notices of sums in arrears on a fixed sum loan under section 86B of the Consumer Credit Act 1974 (CCA 1974) and the customer clears the arrears but leaves default sums outstanding, is the lender required to keep sending subsequent notices of sums in arrears under CCA 1974, s 86B(5)(b)?
Q&As
Would a communication to existing shareholders of a private company limited by shares (of which there are 500+) asking them to pass a resolution to disapply rights of pre-emption so that shares in the capital of the company can be issued to a new investor constitute ‘investment activity’ for the purposes of Financial Services and Markets Act 2000 and the Financial Promotions regime?
Would a communication to existing shareholders of a private company limited by shares (of which there are 500+) asking them to pass a resolution to disapply rights of pre-emption so that shares in the capital of the company can be issued to a new investor constitute ‘investment activity’ for the purposes of Financial Services and Markets Act 2000 and the Financial Promotions regime?
Q&As

Practice Areas

Panels

  • Contributing Author
  • Q&A Panel

Qualifications

  • LLB (Hull)
  • LPC (Shef)
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