2024: what we expected - and what we got!

There's never a dull year in financial regulation and 2024 has proved no exception. Emma Radmore examines where we are ending the 12 months - whether some developments that we expected have occurred, what has taken us by surprise and what to look forward to in 2025.

Emma Radmore is legal director in the UK Financial Regulation team at Womble Bond Dickinson. Contact her on emma.radmore@wbd-uk.com.

What happened with...

BNPL regulation

The saga of when the United Kingdom will bring in the long-awaited and generally agreed regulation of activities in the 'buy-now-pay-later' markets rumbled on. Back in February 2021, the Government said it intended to legislate "as soon as time allows". Two years after the original statement of intent it finally consulted on draft legislation in February 2023. Fast forward and nothing had happened before the 2024 election; commitments on BNPL were not evident from the now-Government's manifesto - although the Labour Party was known to support its regulation. In October 2024, another consultation on the draft legislative changes came out, largely following previous proposals.