Compliance & risk management

Two recent car loan misselling cases heard by the Financial Ombudsman Service (FOS) against Black Horse Motor Finance and Barclays Partner Finance have been mentioned by the FCA as particularly influencing its decision to dive deeper into this issue.

While watched by the Financial Conduct Authority, finance and insurance still delivers welcome profit for car dealers. Debbie Kirlew reports

The Financial Conduct Authority wants to reduce the risks of finance promotions on social media. AM examines what it means for motor retailers' marketing.

In this latest '5 Minutes With' interview, I ask Alphera Financial Services director Alex Royall about some of the work UK motor retail is doing ahead of changing FCA regulation, including affordability checking when a consumer wants to buy a car.

Car retailers have been told “there is no silver bullet” in the fight to avoid potentially devastating data-grabbing cyberattacks as high-profile AM100 businesses continue to recover from hits on their digital systems.

Car finance sales opportunities remain for motor retailers despite tougher economic conditions, new business models and the upcoming FCA Consumer Duty requirements

As the October 31 deadline for implementation plans for FCA Consumer Duty looms, compliance experts share their advice for UK motor retailers.

The future of franchised retailers’ motor finance FCA ruling on discretionary commissions has lead to greater transparency, but few dealers are reporting any noticeable variation to income as a result.

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.

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.

Small regional dealerships should collaborate with others and trade bodies to ensure their opinions are listened to by local and national government

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.

The Financial Conduct Authority is keen for motor retailers providing consumer credit to be upfront about earning finance commission

How close is the industry to a fully-functioning online buying process? These keys may help speed it along.

Training for the EV boom, ADAS issues and FCA review topped the agenda at this year’s event

Two new laws due to enter force in April will give employees’ new rights

The FCA replaced its ‘authorised person’ credit compliance system for car dealers with the Senior Managers & Certification Regime (SMCR) on December 9

Financial Conduct Authority says proposed rules on commission disclosure are designed to give buyers more clarity

A ban on interest-linked commissions will level the playing field, says Financial Conduct Authority

Hi-tech entrants, new alliances and products, ongoing regulatory changes and old supply woes will make for an interesting 12 months

As technology becomes more sophisticated, the quality of enquiry follow-ups needs to improve in tandem

Leading insurance add-on companies aren’t blinking as the FCA takes increased interest

Delegates at the AM100 round table discussed FCA compliance, online sales and CI demands

Changes to government policy, designed to cut emissions, congestion and illness, will almost certainly affect car dealers

Rules proposed under the Government’s Good Work plan could have a big impact on car dealers that use agency workers