Managing director Martin Hill says dealers must not be complacent now they’ve achieved the FSA licence and completed their six-monthly returns. From July 4 he is sending teams to carry out free 30min basic checks at dealerships’ request.
ITC Compliance has identified several failings which may concern FSA regulators, such as not displaying Financial Ombudsman materials in the showroom and not updating contact details of FSA-trained staff. Hill also recommends that dealers make FSA-compliancy integral to the employment contracts of their regulated staff.
The company also carries out a full audit, which lasts a day. It has worked with several groups, including Inchcape, Caffyns and JCT600.