Compliance
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Finance 9 JulReport shows FCA fines have trebled as enforcement cases rise
The value of fines imposed by the Financial Conduct Authority in 2018/19 increased threefold in 2018/19 compared to the prior year.
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Car Dealer News 25 JunStock Exchange reacts to FCA investigation of Lookers’ sales processes
Lookers has said that it is “cooperating fully” with the Financial Conduct Authority (FCA) as the regulator announced that it was commencing an investigation into the car retail group’s sales process.
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Finance 21 Jun
£45.5m FCA fine for Bank of Scotland's failing to disclose to finance regulator
Failing to report early suspicions of fraudulent activity to the finance regulator has left Bank of Scotland with a £45.5 million fine.
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Supplier News 3 JunFCA and PRA fine Raphaels Bank £1.89m
The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) have fined R. Raphael & Sons plc (Raphaels) for failures in the management of its outsourcing arrangements.
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Latest News 29 MarIMDA partners with Dealerweb’s Acceler8 to boost dealer sales
The Independent Motor Dealers Association (IMDA) has launched a new partnership with Acceler8, to help dealers boost sales conversion rates.
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Finance 21 MarFCA prepares for new senior manager regime roll-out
The FCA’s executive director of supervision for retail and authorisations has warned its focus on affordability, business models and culture will not shift.
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Opinion 13 MarFCA’s motor finance review should sharpen compliance focus, guest opinion
The long-awaited FCA update on the motor finance industry has sharpened the sector's focus on Difference in Charge (DiC) arrangements that can lead to higher interest rates for consumers.
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Supplier News 18 FebDealTrak launches integrated F&I compliance module
DealTrak has announced the launch of its new compliance module to assist in managing automotive finance and insurance products.
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Finance 15 FebEuropcar Mobility highlights car finance confusion to promote new long-term lease
Just 53% of motorists understood the terms and conditions of their last car finance deal, according to research commissioned by Europcar Mobility Group UK.
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Latest News 30 JanIMI adds F&I accredited salespeople to professional register
The IMI has added F&I accredited salespeople to its professional register as part of an Alphera-supported scheme to improve transparency and satisfaction.
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Finance 21 JanAlphera rewards FCA compliance with new finance sales incentives
Alphera has launched a new car finance incentive scheme which has been designed with the specific purpose of promoting FCA compliance among car retailers.
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Finance 24 OctNew FCA compliance standard places demand on training
Car retailers have been warned not to breach the Financial Conduct Authority’s new Insurance Distribution Directive, which demands increased staff training in a bid to enhance consumer protection.
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Supplier News 19 SepiVendi introduces add-on product videos for online car sales
A new range of four short animated videos about add-on products has been created by iVendi in an effort to support car dealers' online sales efforts.
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Finance 7 SepCar buyers’ lack of finance understanding presents ‘high potential for mis-selling’
Car buyers’ lack of awareness about car dealers’ obligations when selling finance products suggests a “high potential for mis-selling of F&I products”, according to Alphera Financial Services.
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Finance 31 AugAston Martin Financial Services signs up UK dealer network for Alphera F&I accreditation
Aston Martin Financial Services has signed up its UK dealer business managers to the new Finance and Insurance Accreditation Pathway developed by Alphera Financial Services in partnership with the Institute of the Motor Industry (IMI).
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Finance 20 Jul
Motor finance commission structures remain under FCA scrutiny
Car buyers’ ‘increasing arrears and default rates for customers with the lowest credit scores’ are among areas of consumer credit which remain a concern, the FCA has stated in its annual report.
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Opinion 21 MayGuest opinion: How many dealers have overlooked PCI compliance amid GDPR preparations?
GDPR has been putting the frighteners on virtually every business in the UK for the past 12 months and with D-day finally on the horizon, there’s no escaping the panic any time soon.
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GDPR 4 May
Close Brothers issues its top five GDPR compliance tips
Close Brothers Motor Finance has issued its top five tips to help car dealers achieve GDPR compliance after identifying a need for a quick and easy guide to the new legislation.
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Finance 28 Feb
FCA chief Andrew Bailey updates motor industry on affordability and commission risks
The Financial Conduct Authority expects to publish an update on its examination of motor finance next month.
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Latest News 29 JanInsurance Distribution Directive delay is ‘no reason to relax’, says The Warranty Group
A delay in insurance legislation implementation does not mean that dealers should relax their steps to comply, says The Warranty Group.
