The National Franchised Dealers Association (NFDA) today launched NFDA Compliance, a suite of resources to support its members as consumer credit regulation transitions to the Financial Conduct Authority (FCA).
The FCA officially takes over consumer credit regulation from the Office of Fair Trading on April 1.
In order to help its members and ensure they are making the right decisions for their businesses the NFDA is putting together a range of cost effective compliance solutions.
Sue Robinson, NFDA director, said: “For dealers who are unsure of the next steps or are yet to complete their interim permissions, the NFDA isnow able to provide a suite of resources to help guide them.
“The NFDA firmly believes that the achievement of a positive compliance culture within the dealership, no matter how big or small, should be able to be done in such a way that it is not costly or cumbersome.”
The services and solutions include onsite/offsite guidance to assist with the transitional arrangements from the OFT to the FCA, templates and resources to assist with potential high level standards required under the new regime.
Robinson continued “Alongside the services and solutions that are available, NFDA members will have access to on-going support and advice to assist them going forward."