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