On 27 September 2018, the FCA published Thematic Review 18/2: Impact of credit broking remuneration models at the point of sale (TR18/2). The FCA review considered whether inter-firm commission affects how consumers are sold credit and whether commission arrangements are resulting in consumer harm.

The FCA’s research as part of the review did not find evidence that inter-firm commissions are generally resulting in significant harm to consumers. Moreover, it was found that most finance brokers in the survey did not receive commission on credit products. Some consumers did express dissatisfaction at commission arrangements, however this was a minority of responses and the FCA will address such issues on an individual rather than sectoral basis.

The FCA will continue to monitor credit broking activity as part of its ongoing supervisory strategy and address harm in individual firms where necessary.