The FCA has conceded that Consumer Duty rules are overlapping with existing regulation and will now look to strip back red tape and “streamline” its regulatory rulebook. The financial watchdog...

FCA PLEDGES TO CUT RED TAPE CAZOO: ‘AGGRESSIVE EXPANSION’ A FACTOR IN FAILURE LITHIA UPS STAKE IN PINEWOOD MOTORCYCLE RETAILERS DISSATISFIED, NMDA SURVEY REVEALS LITHIA Q2 RECORD REVENUE BUT...

As this week’s Consumer Duty ‘good outcomes’ deadline approaches, FCA executive director Sheldon Mills has been profiled by The Sunday Times. Adopted by his grandparents at five, he grew up in...

RETAILER TARGETED BY ‘CAR CANNIBALS’ BIZARRE’ OPENING DELAY FOR BARNETTS LEXUS TOYOTA CONSTELLATION UPS VERTU STAKE, HEDIN CUTS PENDRAGON HYUNDAI NAMES OHME OFFICIAL CHARGING PARTNER HERTZ TO...

Motor finance sales are to come under a new investigation by the FCA which has said it will use its powers under the Financial Services and Markets Act to review historical car finance commission...

The FCA’s new Consumer Duty came into effect on 31 July. In launching the new Duty, the regulator pointed to “higher and clearer standards of consumer protection across financial services, (it)...

The vital signs of the used car market in the first half of 2023 have been encouraging for many reasons. Data from some of Cox Automotive’s wholesale and retail brands point to a bullish marketplace...

Almost three out of four automotive retailers (73%) believe implementing measures to meet the FCA’s Consumer Duty responsibilities will create new business opportunities, according to research from...

The current focus for motor retailers is the implementation of the Consumer Duty, and this is rightly so with the 31 July deadline fast approaching. However, this focus should not end there; it should...

On 16 May, the FT Advisor reported that a third of financial advisors were “not confident they are prepared for the go-live date of the consumer duty”. Given that these financial advisors will...

The government is committed to reforming financial services regulation in the UK which will include the outdated 1974 Consumer Credit Act (CCA). It has recently consulted on its reform proposals for...

Nobody relishes a dawn raid. The impact on law-abiding professionals of being taken to a police station for questioning can be enormous. Radius Law director Iain Larkins knows the impact: he was there...

The FCA is directly setting out expectations of the upcoming Consumer Duty in letters to firms – and those providing motor finance will receive their letters very shortly. It is also planning a...

MERCEDES-BENZ ALREADY DISCOUNTING AGENCY CARS FCA OUTLINES CONSUMER DUTY SUPPORT HEYCAR SPONSORS HENDY GROUP AWARDS AUTO TRADER DOWNGRADED – BUT SHARES HEAD HIGHER VOLVO REVIVES SUBSCRIPTIONS IN...

In increasing base rate to 3% in November, the Bank of England warned that the UK risked being plunged into the longest recession in 100 years, one that could last into mid-2024. However, we see...

The new agency model heralds a significant change to the way in which new vehicles are sold – it bears the moniker of commercial disruptor with some justification. But it is a legal disruptor as...

While the FCA’s recent announcement on an extension to the final implementation date to the end of July 2023 will have been welcomed, there is no reason for complacency or procrastination. The hard...

While the new Consumer Duty puts on the onus and responsibility for achieving its objectives onto the lenders, the real problem is the information required to be sent to customers by the Consumer...

Retailers have been given an extra three months to implement the FCA’s new Consumer Duty to allow them to “fundamentally improve” how they sell finance to consumers. The new Consumer Duty...

It’s against my nature to focus on negatives, but with the Consumer Duty looming increasingly large with the Financial Conduct Authority (FCA) due to announce their finalised plans for what have...