Keep up to date with the latest news from the BVRLA. You can browse our complete collection of articles below.
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FCA to tighten rules on motor finance commissions
The Financial Conduct Authority (FCA) has announced its intention to ban commission models where the amount received by the broker is linked to the interest rate that the customer pays and which the broker has the power to set or adjust.
Updated SM&CR resources to support FCA-regulated members
The FCA has recently updated their Senior Managers and Certification Regime (SM&CR) webpages for solo-regulated firms.
FCA regulated firms asked to update their details
Firms are being asked to register on the Financial Conduct Authority’s Connect platform and send them up-to-date details, also known as a mandatory annual update.
Stronger Customer Authentication in card-not-present transactions
The FCA has issued a ‘Dear CEO’ letter regarding the requirements for Strong Customer Authentication in card-not-present e-commerce transactions.
Listen now: new SM&CR podcast
The FCA has published its Inside FCA podcast: Culture and the Senior Managers & Certification Regime, which is a must-listen for firms preparing to implement SM&CR in December.
FCA publishes lessons learnt from SM&CR in banking sector
The Financial Conduct Authority has published a report outlining the findings of a review into the embedding of the SM&CR into the banking sector, following its introduction in March 2016.
FCA developing new data collection system
The Financial Conduct Authority (FCA) has started work to create a new data collection platform and members are invited to complete its online survey which will help shape thinking on the new system.
Support for members preparing for the new SM&CR regime
The BVRLA hosted the ‘SM&CR: are you ready?’ training course last week, and delegates have been quick to provide their positive feedback.
FOS launches consultation on its future funding
The Financial Ombudsman Service (FOS) wants to hear your views on how it should fund its future operations, in anticipation of a decline in the current levels of PPI complaints.
New scheme to give breathing space to those in problem debt
The government has confirmed its intention to launch a breathing space scheme to give those in problem debt the right to legal protections from creditor action while they receive debt advice and enter an appropriate debt solution.
Ensuring FCA-compliance in financial promotions
The BVRLA has produced a Financial Promotions Factsheet to support members looking to develop policies, registers and approval processes in line with requirements as defined in the FCA handbook, CONC 3.
Useful guidance for compliance monitoring
The BVRLA’s compliance team would like to remind FCA regulated members about a factsheet providing guidance on how to set up controls for compliance and implement a monitoring plan.