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New F&I compliance service launched

FISC, motor industry specialist in F&I, compliance and training systems, has teamed up with UKGI to launch 'total regulation and compliance services' (TRACS) for the motor trade.

With UKGI, compliance support service provider, the alliance sees FISC provide online systems, training and competency services as well as compliance and regulation advice.

TRACS focuses on head office paperwork, competency training, creating and delivering a compliant sales process, supervising and monitoring and, finally, keeping dealers up-to-date with rule changes.

FISC operations director Aaron Burton said: "We have been working with UKGI with a number of joint clients since 2005 and this new partnership will be even more relevant to help the trade deal with a growing regulatory burden governing the way general insurance is sold in the wake of the PPI scandal which so damaged the reputation of banks.

"The motor trade is likely to be under increased scrutiny in the way ancillary insurance is sold and there is likely to be more change when the Financial Conduct Authority replaces the FSA next year."

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