Car finance sales opportunities remain for motor retailers despite tougher economic conditions, new business models and the upcoming FCA Consumer Duty requirements
Unprepared car retailers could be “heading for a fall” if they do not act fast to prepare for 2023’s ramp-up in compliance challenges, it has been claimed.
The Finance and Leasing Association (FLA) has called for reform of the Consumer Credit Act to be “comprehensive” as consultation on the plans opened today (December 9).
Single point dealer processes that track motor finance activity could prove essential to meeting the Financial Conduct Authority's (FCA) Consumer Duty principle, says iVendi.
The Financial Conduct Authority (FCA) has said that the finance sector needs “a higher quality of credit information” to ensure that consumers get accurate lending advice.
Pawnbrokers are the only lending provider deemed worse than motor finance at assessing customer vulnerability as UK households feel the impact of its cost-of-living crisis, an FCA report suggests.
As the October 31 deadline for implementation plans for FCA Consumer Duty looms, compliance experts share their advice for UK motor retailers.
Automotive retail business have been reminded that they have until the end of October to ‘make a plan and do what it says’ to comply with the Financial Conduct Authority’s (FCA) new Consumer Duty regulations.
Car retailers have been the target of a “veiled threat” from an overstretched HMRC after the Government body identified the sector as a VAT risk area, MHA has revealed.
Car retailers have been told “there can be no compromise” when it comes to the technology leveraged to ensure compliance with the Financial Conduct Authority’s (FCA) new Consumer Duty.
AM is hosting a webinar for law firm Freeths this Thursday to give UK motor retailers insights into how they must prepare for the Consumer Duty, the new regime from the Financial Conduct Authority.
October’s fuel cap price increase - if implemented - would result in a safety risk for motorists as one-in-five say they plan to cut back on car maintenance.
Richard Barnwell, financial services advisory partner at BDO, outlines what the FCA's new Consumer Duty will mean to UK motor retailers and repairers.
The National Franchised Dealers Association has responded to new FCA rules on appointed representatives with a warning of likely delays and increased costs passed on to consumers.
The Financial Conduct Authority has toughened its rules to help prevent consumers being mis-sold or mis-led by appointed representatives (ARs) following its concerns that many are not being managed effectively by principal firms.
Tara Williams, chief risk and compliance officer, AutoProtect Group, shares some insights into the likely impact of the Financial Conduct Authority shining the spotlight on finance and insurance's appointed representatives and their principals.
The DS 4 has achieved a five-star Euro NCAP rating in its latest round of testing, while Honda's HR-V performed well, too.
The Financial Conduct Authority (FCA) will “pull no punches” when its sets new guidelines for the car retail sector’s Appointed Representative (AR) model for financial services.
ITC Compliance, a UK intermediary Financial Conduct Authority (FCA) Network, has been purchased by Fortegra Group, a global speciality insurer.
With December’s publication of the Financial Conduct Authority’s (FCA) second consultation on its new all-encompassing Consumer Duty protocols and the automotive retail sector now subject to commission disclosure regulations, motor finance has once again been reassessing how it operates.
