Rebecca Kellner

Orrick, Herrington & Sutcliffe

Rebecca is an associate in the Orrick, Herrington & Sutcliffe financial services regulatory team and provides advice on a broad range of financial regulation. She works with a number of regulated companies and financial institutions in different spaces, including banks, brokers, advisors, e-money institutions, payment services providers and consumer credit firms.

Typical work includes advising on issues relating to authorisation, structuring, outsourcing, systems and controls, conduct of business, financial resources, market abuse, EU directives, promotion and distribution of investments, money laundering, payment services and consumer credit.

She is particularly active in the Fintech space and provides advice for clients ranging from peer to peer lending platforms, challenger banks, app-payment providers, robo advisers as well as those working with blockchain and cryptoassets.

Contributed to

2

Consumer credit agreements—pre-contract requirements

Practice notes

The Financial Conduct Authority (FCA) has emphasised that one of the main principles underpinning the consumer credit rules is to ensure that consumers are treated fairly. This includes ensuring a customer is provided with full pre-contract disclosure that complies with Chapter 4 of the Consumer Credit Sourcebook (CONC). This Practice Note examines pre-contract disclosure in consumer credit agreements, under the requirements of the Consumer Credit (Disclosure of Information) Regulations 2010, SI 2010/1013 (the Disclosure Regulations), which implemented the requirements of the Consumer Credit Directive 2008/48/EC (CCD) into UK law, together with regulatory requirements encapsulated in Chapter 4 of the FCA’s Sourcebook on Consumer Credit (CONC 4).

Financial Services

Exempt consumer credit agreements under the FSMA 2000 (Regulated Activities) Order 2001

Practice notes

This Practice Note seeks to explain the types of agreements which will be exempt agreements under the FCA’s consumer credit regime. Entering into these agreements will exempt a lender from carrying out the activity of entering into a regulated credit agreement as lender. This Practice Note also provides an overview of exempt consumer hire agreements and exempt agreements entered into by local authorities.

Financial Services