financial conduct authority
Finance 10 May
FCA warns of "swift action" as Consumer Duty deadline looms
The Financial Conduct Authority (FCA) has warned there will be "swift action" for those that ignore its new Consumer Duty standards.
Opinion 9 May
Consumer Duty renews focus on even better customer outcomes
Mike Todd, chief executive of Volkswagen Financial Services UK, shares his thoughts about the Financial Conduct Authority's new Consumer Duty regime which begins on July 31.
Finance 3 May
Walker Morris boosts motor finance regulatory team with Russell Kelsall hire
Law firm Walker Morris has appointed Russell Kelsall as a partner and head of consumer and motor finance in its regulatory team.
Finance 26 Apr
Latest FCA Consumer Duty deadline puts car dealers on ‘compressed timeline’
An April 30 deadline for motor finance providers to issue product reviews to their retail partners will put car dealers on a “compressed timeline” to deliver compliance with the Financial Conduct Authority’s new Consumer Duty regulations.
Opinion 23 Feb
Detail is in the data for car retail's FCA Consumer Duty compliance, opinion
When the initial consultation for Consumer Duty was announced in May 2021 by the Financial Conduct Authority (FCA), it divided opinion.
Finance 14 Feb
Amigo Loans censured but escapes £73m FCA fine for poor affordability checks
Failure to have appropriate processes to properly check affordability has left sub-prime firm Amigo Loans publicly censured by the FCA instead of a £72.9m fine.
Finance 25 Jan
FCA gives firms extra Consumer Duty guides as review finds laggards
Alarm raised by the Financial Conduct Authority that some firms are behind in their planning with just six months until Consumer Duty rules comes into effect.
People News 10 Jan
Ivendi's Phil Harding recruited by Automotive Compliance as sales boss
After more than six years at iVendi Phil Harding has left to join Automotive Compliance as its national sales director, in a newly created role.
Finance 13 Dec
Are car dealers ‘heading for a fall’ ahead of 2023’s compliance challenges?
Unprepared car retailers could be “heading for a fall” if they do not act fast to prepare for 2023’s ramp-up in compliance challenges, it has been claimed.
Finance 9 Dec
Consumer Credit Act reform must be ‘comprehensive’, says FLA
The Finance and Leasing Association (FLA) has called for reform of the Consumer Credit Act to be “comprehensive” as consultation on the plans opened today (December 9).
Finance 24 Nov
VIDEO: Single point dealer processes essential for new FCA Consumer Duty
Single point dealer processes that track motor finance activity could prove essential to meeting the Financial Conduct Authority's (FCA) Consumer Duty principle, says iVendi.
Finance 23 Nov
FCA demands improved customer data needed to improve finance decisions
The Financial Conduct Authority (FCA) has said that the finance sector needs “a higher quality of credit information” to ensure that consumers get accurate lending advice.
Latest News 14 Nov
Machete attack used car retailer hit with FCA ban
A used car dealer who attacked a doorman with a machete during a night out has been banned from providing financial services by the FCA.
Finance 3 Nov
Only pawnbrokers monitor customer vulnerability less than motor finance sector, FCA finds
Pawnbrokers are the only lending provider deemed worse than motor finance at assessing customer vulnerability as UK households feel the impact of its cost-of-living crisis, an FCA report suggests.
Finance 7 Oct
FCA Consumer Duty: time to ‘make a plan and do what it says’
Automotive retail business have been reminded that they have until the end of October to ‘make a plan and do what it says’ to comply with the Financial Conduct Authority’s (FCA) new Consumer Duty regulations.
Finance 30 Sep
FCA acts to protect consumers from unnecessary insurance products and unfair penalties
The Financial Conduct Authority has written to insurance sector CEOs as part of a bid to protect consumers from “unnecessary products or add-ons and unfair penalties” during the cost-of-living crisis.
Finance 20 Sep
Car retailers cannot afford to compromise on new FCA principles
Car retailers have been told “there can be no compromise” when it comes to the technology leveraged to ensure compliance with the Financial Conduct Authority’s (FCA) new Consumer Duty.
Finance 8 Aug
NFDA warns new FCA rules may delay some car dealers' F&I authorisations
The National Franchised Dealers Association has responded to new FCA rules on appointed representatives with a warning of likely delays and increased costs passed on to consumers.
Finance 17 Jun
NFDA welcomes move to reform ‘outdated’ Customer Credit Act
National Franchised Dealers Association (NFDA) chief executive Sue Robinson has welcomed Government’s decision to reform the Customer Credit Act – branding it “outdated”.
Finance and insurance 14 Jun
Keeping car finance competitive amid BoE's rising interest rates
Car dealerships are facing a double whammy of rising overheads and diminishing consumer finances after the Bank of England (BoE) further increased interest rates this month to 1%.