Compliance
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Opinion 26 AprWhat's next for dealers' Appointed Representative status?
Tara Williams, chief risk and compliance officer, AutoProtect Group, shares some insights into the likely impact of the Financial Conduct Authority shining the spotlight on finance and insurance's appointed representatives and their principals.
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Finance 12 AprFCA will ‘pull no punches’ with car retail’s Appointed Representatives
The Financial Conduct Authority (FCA) will “pull no punches” when its sets new guidelines for the car retail sector’s Appointed Representative (AR) model for financial services.
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Acquisitions and deals 8 AprFortegra Group acquires ITC Compliance
ITC Compliance, a UK intermediary Financial Conduct Authority (FCA) Network, has been purchased by Fortegra Group, a global speciality insurer.
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Finance and insurance 3 FebFCA's new Consumer Duty makes transparency and consistency vital in car finance
With December’s publication of the Financial Conduct Authority’s (FCA) second consultation on its new all-encompassing Consumer Duty protocols and the automotive retail sector now subject to commission disclosure regulations, motor finance has once again been reassessing how it operates.
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Supplier News 17 DecHonda MD, FCA impact, Tesla Model Y driven - in the latest AM magazine
The latest issue of AM magazine is published today with insights into the impact of FCA changes to finance rules, Honda's next stage in its retail network redesign and a first drive of the new Tesla Model Y.
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Finance 14 DecFCA fines NatWest £264.8 million for failed anti money laundering duty
Firms handling large sums of cash have been reminded of their duty to combat money-laundering after NatWest Bank was fined £264.8 million in the Financial Conduct Authority's first criminal prosecution for money laundering failings.
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Finance 30 Jul
New FCA proposals target more ‘assertive’ decision-making
Faster and more assertive decision making in relation to non-compliance issues are at the heart of a series of changes proposed by the Financial Conduct Authority (FCA).
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Finance and insurance 7 JulAre car retail’s new FCA regulations having the desired effect?
Six months on from the introduction of new Financial Conduct Authority (FCA) regulations, automotive retailers should be starting to see an impact on average commission levels as they adapt to a new way of working.
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Supplier News 22 JunGrowth in the face of COVID-19 an ‘unexpected positive’, says Alphera boss
A 21% rise in finance applications was not what Alphera Financial Services head Preston Rogers anticipated when he was tackling the fall-out of COVID-19 in 2020 – but that is what the business delivered.
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Finance 19 MarDealers urged to prepare for car buyers' interest in commission rates
MotoNovo has urged dealers to ‘be prepared’ for car buyers' greater levels of interest in a dealer’s finance commission.
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Car Dealer News 2 MarLookers avoids sanctions as FCA closes investigation into ‘possible mis-selling’
The FCA has told Lookers does not intend to apply any sanction against the car retail group following the decision to close its investigation into the ‘possible mis-selling’ of regulated products.
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Finance 6 Jan
Most dealers feel ready for Jan 28 motor finance changes
Just over half of UK motor retailers believe they’re ready for the changes to motor finance rules which are being brought in on January 28.
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Finance and insurance 24 DecKeeping motor finance safe to trade
In early 2021 the Financial Conduct Authority's ban on discretionary commission in motor finance will kick in. AM examines the impact on motor retailers.
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Finance and insurance 23 DecDealers get set for disclosure and accountability in motor finance
The Financial Conduct Authority is keen for motor retailers providing consumer credit to be upfront about earning finance commission
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Finance 15 Oct
FCA to move from Gabriel to RegData for regulatory reporting
The FCA is replacing its Gabriel regulatory reporting system with RegData starting from October 17 and 18.
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Finance 14 OctFCA motor finance changes present ‘promotional and profit opportunity’
Forthcoming Financial Conduct Authority (FCA) changes to the motor finance sector should be embraced as a “promotional and profit opportunity” by used car dealers.
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Finance 5 Oct
FCA’s SM&CR deadline extension must not bring complacency about compliance
Car retailers have been urged not to not put their preparations to comply with the Financial Conduct Authority’s (FCA) Senior Manager Certification Regime (SM&CR) “on the back burner” as a result of the recent deadline extension.
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News 23 SepTrade Centre UK radio advert banned due to ‘ambiguous’ finance T&Cs
A Trade Centre Group radio advert said to have placed PCP finance terms at the start in an effort for added prominence has been banned by the Advertising Standards Authority (ASA).
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Opinion 4 AugAct now to adapt to FCA's motor finance regulation changes, opinion
Many will still need time to fully consider the content of the Financial Conduct Authority’s (FCA) final ruling from its motor review and the impending ban on discretionary commission models, published earlier this week.
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Finance 28 Jul
FCA confirms ban on car dealers' discretionary motor finance commission models
The Financial Conduct Authority (FCA) has confirmed its move to ban all discretionary commission models in motor finance to save car buyers £165 miilion-per-year and eliminate “conflicts of interest” in the sector.
