This article explores the possible impact (beyond the appointment of a Director of Compliance for HE managers) once the Higher Education Act 2016 has created OFTE--the Office for Tertiary Education Regulation. The article also focuses attention on the long-established consumer protection context for the operation of the student-university contract which has very recently received wider recognition and new emphasis. It is the source of the growing pressure upon institutions to get their managerial act together in terms of risk assessment and risk management of the delivery of service to the student. Outlined are three key new items that the author states that HE managers need to digest: (1) A report published in November 2014: "A Degree of Value: Value for Money from the Student Perspective"; (2) The recent document from the Competition & Markets Authority (CMA) entitled "UK Higher Education Providers--Draft Advice on Consumer Protection Law" (November 2014); and (3) The Consumer Rights Bill that is currently progressing through Parliament. The article concludes by asserting that, in the years ahead, university managers are probably going to have to deploy more resources and effort into ensuring that they better assess and manage the legal risks of failing to comply with consumer protection laws applying to the student-university relationship. Institutions are now on notice that trading standards could yet descend upon the campus--as well as the fee-paying student behaving more as a consumer and also increasingly being aware of his or her consumer rights.