Consultation response to FCA: Discretionary commission

The BVRLA has responded to the Financial Conduct Authority’s consultation which sets outs its plans to update the commission disclosure rules banning discretionary commission arrangements for credit sale products.

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, the association has recommended that the rules be rewritten to make it clear when, by who and what commission should be disclosed.

View a copy of the BVRLA’s full response.