Closed consultation

Regulation of Buy-Now Pay-Later: consultation on draft legislation

• From: HM Treasury
• Published: 14 February 2023

This was published under the 2022 to 2024 Sunak Conservative government

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Summary

The government is consulting on draft legislation to bring Buy-Now Pay-Later products into regulation.

This consultation ran from
9am on 13 February 2023 to 11:59pm on 11 April 2023

Consultation description

On 2 February 2021, the government announced its intention to regulate interest-free Buy-Now Pay-Later (BNPL) products. The government consulted on policy options to deliver a proportionate approach to regulation in October 2021, followed by a consultation response in June 2022.

The government is now consulting on the proposed draft legislation that will bring BNPL into Financial Conduct Authority regulation. The consultation asks for stakeholders’ views on whether the draft legislation effectively delivers the policy positions set out in the government’s consultation response.

Documents

Regulation of Buy-Now Pay-Later: consultation on draft legislation

PDF, 252 KB, 45 pages

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Buy-Now Pay-Later Draft Statutory Instrument

PDF, 201 KB, 9 pages

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Request an accessible format.

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email digital.communications@hmtreasury.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Published 14 February 2023