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<p>On 1 April 2014, the Government fundamentally reformed regulation of the consumer
credit market, transferring regulatory responsibility to the Financial Conduct Authority
(FCA).</p><p> </p><p>Like other types of credit, litigation funding in the form of
credit is regulated by the FCA and therefore its Consumer Credit Sourcebook applies
to these products.</p><p> </p><p>The FCA is looking at whether consumer harm needs
to be mitigated in this sector and continues to monitor new firms providing credit
to fund legal fees.</p>
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