On 21 November 2024, the Financial Conduct Authority (FCA) launched a consultation, CP24/22, on its proposal to make further temporary changes to how firms handle motor finance complaints where they involve a commission arrangement.
Background
In January 2024, the FCA introduced new rules for handling motor finance complaints where there was a discretionary
On 24 September 2024, the Financial Conduct Authority (FCA) published a Policy Statement, PS24/11, confirming that it is extending its temporary changes to handling rules for motor finance complaints.
Background
The FCA announced in January 2024 that it was reviewing whether motor finance customers have been overcharged due to the past use
On 30 July 2024, the Financial Conduct Authority (FCA) published an update on its motor finance work and a consultation paper (CP24/15) on extending its temporary changes to handling rules for motor finance complaints.
Background
In January 2024, the FCA announced that it was carrying out a review of the historical use of
On 30 July 2024, the Financial Conduct Authority (FCA) published an update on its motor finance work and a consultation paper (CP24/15) on extending its temporary changes to handling rules for motor finance complaints.
Background
In January 2024, the FCA announced that it was carrying out a review of the historical use of
In this latest Regulation Tomorrow Plus podcast we consider the FCA’s recent intervention in the motor finance sector including the action that firms will need to take. Listen to the episode here.
On 25 January 2024, the FCA published information for firms affected by its review into the historical use of discretionary commission arrangements (DCAs) in the motor finance industry.
The FCA announced earlier this month that it is using its powers under s166 of the Financial Services and Markets Act 2000 to review sales
On 11 January 2024, the FCA published Policy Statement PS24/1 setting out temporary changes to the handling rules for motor finance complaints. The new rules have been introduced in response to a high number of complaints from customers to motor finance firms claiming compensation due to historical, potentially unfair, commission arrangements. By introducing these changes
On 28 July 2020, the FCA announced that following its earlier consultation in October 2019 it will introduce a ban on motor finance discretionary commission models.
In the light of consultation feedback and the additional operational pressures which the motor finance sector is facing at present the FCA has agreed to give firms limited additional