Dealers left scratching their heads over tough new financial regulations are being offered help by a leading warranty provider. Warranty Administration Services has added a new feature to its website to help dealers prepare for the major shake up in warranty rules.
Retailers risk jail if they continue to sell or advise on insurance-based warranty products after January 2005 – unless they become accredited by the Financial Services Authority.
Warranty Administration Services' countdown to compliance outlines the new rules at www.genesisdirect.co.uk and offers advice on what dealers need to do to get compliant.
Alan Davison, managing director, says: “The FSA regulations are causing an enormous amount of concern throughout the motor trade. I hope that by breaking the process down into bite size pieces, we can help dealers gain a better understanding of what is happening.”
FSA regulation seminars backed by Black Horse, Capital Bank, Car Care Plan, the Insurance Training Consortium, RAC Warranty and Warranty Holdings are to be held at Leeds on Feb 17, Manchester Feb 18, Glasgow Feb 19, Heathrow Feb 24, Solihull Feb 25 and Bristol Feb 26. Telephone 01924 265555 for details. Further information on the seminars is provided by Black Horse on page 15.
Copies of AM's Essential FSA guide (£10 incl. p&p) can be ordered on 01733 468259.