The BVRLA webinar aims to answer questions and take away key points to inform its consultation response to the Financial Conduct Authority, which is consulting on a ban of certain commission arrangements.
The webinar takes place at 10am on Tuesday 14 January and will last no more than one hour.
Taking part in this free webinar to help clarify these changes, will be Jo Davis of Locke Lord and BVRLA’s Head of Operations Amanda Brandon. Members will be able to ask questions and share views.
The FCA wants to break the link between interest rate and broker commission. It is not seeking to restrict the ability for brokers to set the rate a customer pays but is looking to remove any financial incentive involved.
With regard to the revised disclosure requirements, the FCA is not expecting brokers or funders to disclose the exact amount of commission, but it does expect the customer to be informed if a commission exists and the basis upon which it would be calculated.
