Clarification is being sought on whether motor dealer brokers could be considered co-manufacturers under the terms of Consumer Duty. The Finance & Leasing Association (FLA) has contacted the Financial Conduct Authority (FCA) for further information on how Consumer Duty will be applied in the motor finance market.
The Financial Conduct Authority (FCA) has written to motor finance firms regarding the financial impact of its review into historical commission arrangements. Firms are being prompted to set budget aside to handle and resolve complaints that may arise as a result of the review.
The Financial Conduct Authority (FCA) has published the results of the final phase of the Financial Resilience Survey. This survey began in light of the Covid-19 pandemic and has continued through several crises, providing valuable insight about the financial resilience of thousands of firms that it regulates.
The Financial Conduct Authority (FCA) has undertaken a multi-firm review that identified shortcomings in how some motor insurers are valuing written-off or stolen vehicles.
The Financial Conduct Authority (FCA)’s ‘pragmatic’ approach to Consumer Duty enforcement was a feature of a recent speech delivered by Chief Executive Nikhil Rathi. Speaking at the recent Morgan Stanley European Financials Conference, Rathi looked at the FCA’s regulatory approach to deliver for consumers, markets, and competitiveness.
The Financial Conduct Authority (FCA) has published good practice and areas for improvement regarding Consumer Duty. Having reviewed progress to date, the authority has said it “welcomes the improvements made by many firms to deliver better outcomes for their customers. However, some firms are lagging behind.”
The Financial Conduct Authority (FCA) is surveying large advice firms to see how they have implemented the Consumer Duty regulations since it came into force last summer.
Last week’s episode of the Martin Lewis Money Show shone a spotlight on consumer rights relating to motor finance, focusing on the Financial Conduct Authority (FCA)’s Motor Finance Review into Commissions.
This evening’s Martin Lewis Money Show shines a spotlight on consumer rights relating to motor finance. It is expected that the segment will focus on the parameters of FCA’s Motor Finance Review into Commissions. Members are advised that the show could lead to an increase in calls about vehicle lease agreements.