Financial Conduct Authority (FCA)
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Car Dealer News 3 AprFCA to consider deferment of fees during coronavirus lockdown, says NFDA
The Financial Conduct Authority (FCA) may allow businesses to defer their subscription fees as they battle to minimise outgoings during the COVID-19 coronavirus crisis, the National Franchised Dealers Association (NFDA) has said.
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Finance 2 Apr
FCA proposes loan repayment freeze for coronavirus-hit consumers
The Financial Conduct Authority (FCA) has proposed a three-month temporary payment freeze on loan and credit card repayments to help consumers cope with the “unprecedented financial shock” triggered by the COVID-10 coronavirus lockdown.
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Car Dealer News 10 MarLookers delays annual financial results due to fraud investigation
Lookers has revealed that it will delay the publication of its 2019 annual financial results after finding evidence of potentially fraudulent transactions in one of its operating divisions.
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Finance 19 Feb
FCA bans Rix Motor Company’s range of online adverts
The Financial Conduct Authority (FCA) has banned a number of online adverts issued by Rix Motor Company.
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Finance 17 Feb
FCA fines Moneybarn £2.77m for unfair treatment of 'vulnerable' customers
The Financial Conduct Authority (FCA) has fined automotive finance provider Moneybarn £2.77 million for failing to treat "vulnerable" customers fairly when they fell behind with loan repayments while in financial difficulties.
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Opinion 13 FebFive ways car dealers can drive affordability and sales, guest opinion
Motor traders have faced a dual challenge in the last year or so, reviewing their affordability assessments to meet new guidance from the FCA at a time of economic uncertainty.
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People News 5 FebLookers targets ‘improved operational execution’ under new CEO
Lookers Group will target “improved operational execution” in 2020 following the appointment of Mark Raban as its new chief executive and Cameron Wade as chief operating officer.
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Opinion 24 JanThe ground rules of GAP in an FCA-scrutinised market, a guest opinion
The Financial Conduct Authority (FCA) said, as part of its 2018/2019 Business Plan, it would strive to investigate the effectiveness and impact of its interventions into certain markets and industries.
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People News 23 DecFormer Capital One COO appointed as Lookers non-executive director
Lookers has appointed former Capital One chief operating officer Victoria Mitchell as a non-executive director and Phil Kenny as its new general counsel and company secretary.
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Finance 20 Dec
FCA seeks input from firms on 'open finance' opportunities
The Financial Conduct Authority is looking into 'open finance' which would make it easier for consumers and businesses to compare price and product features and switch product or provider.
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Finance 9 DecKew Vehicle Leasing embraces commission payment disclosure
Kew Vehicle Leasing claims to have become the first leasing broker to openly disclose the amount of finance commission it receives on all regulated Personal Contract Hire (PCH) agreements.
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Supplier News 5 NovDebate FCA finance regulation at Automotive Management Live
With the Financial Conduct Authority having just issued its proposals to outlaw certain commission models and encourage commission disclosure, the presenters of The Future of Motor Finance session at Automotive Management Live this Thursday are raring to share their insights and analysis.
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Finance 15 OctDealers will disclose commission under new FCA motor finance plan
The Financial Conduct Authority has considered whether to force car dealers to tell their customers about the way they earn commission from selling motor finance and the amounts they earn.
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Latest News 11 OctCar finance options confuse UK consumers
Research from Zopa has shown that UK car buyers are confused when picking which car finance option is the best to fund their next purchase.
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Opinion 4 OctNew FCA regime highlights F&I professionals’ duty to ‘stay competent’
On December 9 this year, the Financial Conduct Authority’s (FCA) Senior Managers and Certification Regime (SMCR) for consumer credit firms – including motor finance sellers – comes into effect.
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Finance 27 SepFCA motor finance regulation must avoid ‘unintended consequences’
The Financial Conduct Authority (FCA) has to be sure that any regulatory changes introduced by the in light of its recent review of the motor finance sector “don’t have unintended consequences”.
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Market Insight 23 JulFCA issues draft guidance on dealing with vulnerable consumers
New draft guidance from the Financial Conduct Authority should help dealers in their sales of finance and insurance to vulnerable consumers.
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Car Dealer News 25 Jun
Stock 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 12 JunFCA action drives change to 'buy now, pay later' finance
The Financial Conduct Authority is freeing consumers from full back-dated interest charges when they partly pay amounts owed under ‘buy now, pay later’ (BNPL) finance deals.
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Finance and insurance 24 AprDoes FCA motor finance review spell the end for DiC schemes?
The FCA’s inquiry raised serious concerns about car dealers and brokers manipulating finance rates to increase commissions
