Resource Library

A study from the Finance & Leasing Association (FLA) has identified how the UK compares to other established markets when considering consumer credit regulation and alternative dispute resolution (ADR).

The Supreme Court’s judgment on April’s motor finance appeal is expected in the coming weeks, and the Financial Conduct Authority (FCA) has now set out its key considerations for a potential redress scheme in response.

The BVRLA’s latest Compliance Forum brought together sixty members and expert speakers to explore the most pressing compliance and regulatory issues facing members. Hosted by Shoosmiths, the event offered attendees a series of practical insights and actionable advice to take back to their organisations.

As the regulatory landscape continues to evolve, it’s more important than ever for members to regularly review their processes to ensure compliance and protect customer trust. Through the BVRLA’s ongoing inspection programme, it has seen some recurring themes that serve as useful reminders for everyone.

Members are encouraged to save the date of Thursday 9 October for the association’s next Leasing Broker Conference.

The Financial Conduct Authority (FCA) has outlined its plans for changes to consumer credit regulatory returns. The publication of Policy Statement PS25/3 follows last year’s CP24/19 consultation. The BVRLA submitted a response on behalf of members, drawing on feedback from its committees and working groups.

Charlotte Matthews, Consumer Policy Manager at the Financial Conduct Authority (FCA), will present insights from the FCA’s Vulnerability Review as part of the BVRLA’s next Compliance Forum. The half-day event will take place on Wednesday 28 May at Shoosmiths London, bringing together compliance professionals to deep dive into current regulatory challenges.

The FCA highlighted that it is pleased to see that the Consumer Duty has further heightened firms’ focus on ensuring good outcomes for customers in a vulnerable situation. Protecting customers in such situation was outlined to remain a key priority for the regulator.

The Financial Conduct Authority (FCA) has published examples of Good and Poor Practice for supporting customers in vulnerable circumstances, as part of its Vulnerability Review. The output outlines some specific examples for members to apply to their businesses.

Since the Financial Conduct Authority (FCA) launched its review into discretionary commission arrangements (DCAs), a ruling by the Court of Appeal found in favour of the consumers in three cases relating to commission disclosure. The Supreme Court will hear an appeal against the Court of Appeal’s judgment in early April. The FCA has been granted permission to intervene in the case and have filed a submission with the Court.

The Supreme Court has confirmed who will be able to make a formal intervention as part of a motor finance appeal case, which is set for April. The case will hear an appeal by finance firms after the Court of Appeal Commission Disclosure ruling in favour of the customers in October last year.

Members are advised to check they have adequate Financial Conduct Authority (FCA) permissions for the activities undertaken, and cancel any not being used to avoid fines.