With the Financial Conduct Authority’s interim period coming to an end, AM has launched its very first Finance and Insurance Compliance Conference to provide dealers with the detail they need to continue to meet the FCA guidelines in every aspect of their business.
Taking place on November 18 at Oxford Belfry, the F&I Compliance Conference has attracted Alphera Financial Services and Mapfre Abraxas as headline sponsors.
Held in conjunction with the FCA, the organisation will be fielding a speaker just as dealers move into the period when they will have to apply for full authorisation with many expecting to do so in early 2015, providing the opportunity to clarify any points and gain a much deeper understanding of the entire process.
Interest in the conference is already high which is a direct reflection on the fact that the FCA’s takeover for the responsibility of consumer finance on April 1 has been the biggest issue facing dealers since the downturn itself.
Experts from the F&I industry will also take to the main stage when wider issues such as incorporating F&I into social media, the impact of the FCA on dealers’ F&I business and future implications, the future of gap and the evolving role of the business manager in the new era, will be tackled.
With latest figures from the Finance and Leasing Association showing a staggering 75% of all private vehicle sales are funded through finance, F&I is vital to most dealers’ bottom line and FCA understanding and compliance is absolutely crucial.
AM editor Jeremy Bennett said: “Margins in vehicles have never been tighter which means dealers have to safeguard every revenue stream whilst ensuring they remain fully compliant.
"It can be a difficult course to navigate and we have deliberately timed the conference ahead of when most dealers are expected to have to apply for full authorisation to ensure they have the information required and knowledge of the resources to draw on to make the process and on-going compliance as straightforward as possible.”
Aiming to provide an objective and honest appraisal of the FCA and its requirements whilst at the same time highlighting some of the pitfalls, debunking the myths and pointing out the positive aspects, the conference will attract professionals from all strata and departments of automotive retail.