regulation
FCA reminding motor finance firms about maintaining adequate resources
The Financial Conduct Authority is reminding motor finance firms about their requirement to maintain adequate financial resources at all times, in the light of several lenders reserving millions of pounds in case of widespread compensation demands after the review of car loan commissions.
Executive View: Vulnerable customer identification under the FCA's Consumer Duty
The pressure on UK motor retailers to identify vulnerable customers ahead of the motor finance sales process has increased since the arrival of the latest regulatory regime, and Jonathan Barrett, chief executive of Comentis, shares his thoughts on what this means for regulated firms.
Toyota and Hyundai "misleading" EV charging claims criticised by advert watchdog
The UK national sales companies of carmakers Toyota and Hyundai have been warned by the Advertising Standards Authority for making marketing claims about the rapid charging capability of electric vehicles which it has ruled as "misleading".
BVRLA launches Compliance Forum to help members with FCA
A new Compliance Forum, centred around three half-day events, is hoped to help BVRLA members improve their understanding of the ongoing "period of remarkable regulatory realignment" and the future of motor finance.