The Financial Conduct Authority (FCA) will take over the regulation of consumer credit from the Office of Fair Trading (OFT) on 1 April 2014. It has released a policy statement setting out its decision to carry out some Consumer Credit Act (CCA) secondary legislation into FCA rules, by means of a designation instrument. The power to designate was given to the FCA by the government in order to make small changes to the secondary legislation reflecting the differences between the OFT and FCA regimes. The designation instrument will come into effect 1 April 2014.