In early 2021 the Financial Conduct Authority's ban on discretionary commission in motor finance will kick in. AM examines the impact on motor retailers.
The Financial Conduct Authority is keen for motor retailers providing consumer credit to be upfront about earning finance commission
The FCA is replacing its Gabriel regulatory reporting system with RegData starting from October 17 and 18.
Forthcoming Financial Conduct Authority (FCA) changes to the motor finance sector should be embraced as a “promotional and profit opportunity” by used car dealers.
Car retailers have been urged not to not put their preparations to comply with the Financial Conduct Authority’s (FCA) Senior Manager Certification Regime (SM&CR) “on the back burner” as a result of the recent deadline extension.
A Trade Centre Group radio advert said to have placed PCP finance terms at the start in an effort for added prominence has been banned by the Advertising Standards Authority (ASA).
A survey from Rivervale Leasing has found that 63% of drivers do not trust their infotainment system, despite using them almost daily.
Car retailers should be compelled to familiarise and educate customers with new in-car technology as part of new responsibilities towards road safety, according to IAM Roadsmart.
Many will still need time to fully consider the content of the Financial Conduct Authority’s (FCA) final ruling from its motor review and the impending ban on discretionary commission models, published earlier this week.
The Financial Conduct Authority (FCA) has confirmed its move to ban all discretionary commission models in motor finance to save car buyers £165 miilion-per-year and eliminate “conflicts of interest” in the sector.
MotoNovo claims to have moved towards the Financial Conduct Authority’s (FCA) car finance ideal scenario with the launch of its new “priced to risk” MotoRate offering.
MotorVise Automotive has partnered with Drive Assured and The Compliance Company to form the Motor Alliance – a new business aiming to drive car dealers’ profitability.
HM Treasury has appointed the current chief executive of London Stock Exchange Nikhil Rathi as the new permanent chief executive of the Financial Conduct Authority (FCA).
Government’s ‘travel by car’ advice fuels hope for market revival
Automotive Services International has said automotive finance payment deferrals introduced during the coronavirus pandemic could see customers incur unintended costs.
Next month the Independent Garage Association (IGA) will launch a COVID-19 compliance certification scheme for independent workshops wishing to demonstrate to their customers that the environment is safe.
APD Compliance Solutions has welcomed ex-ALD Automotive Group and ARI Fleet UK managing director Keith Allen as an equity stakeholder and board member.
The Financial Conduct Authority (FCA) has said that it expects motor finance providers to offer “exceptional and immediate support to customers facing payment difficulties” due to COVID-19 coronavirus.
The Financial Conduct Authority (FCA) has fined automotive finance provider Moneybarn £2.77 million for failing to treat "vulnerable" customers fairly when they fell behind with loan repayments while in financial difficulties.
Training for the EV boom, ADAS issues and FCA review topped the agenda at this year’s event
