BVRLA response - FCA discretionary commission and disclosure

The BVRLA has responded to the FCA consultation on plans to ban discretionary commissions arrangements for credit sale products and update the commission disclosure rules.

In its response the BVRLA  has called for a longer lead in time for the ban once it is introduced to give members time to make system changes and negotiate contracts.

For the commission disclosure we have recommended that the rules be rewritten to make it clear when, by who and what commission should be disclosed.