discretionary commission - Auto Retail Network

Motor finance FCA complaints: impact on retailers and lenders

On 11 January 2024, the FCA announced that it is looking into motor finance complaints for certain types of motor finance sold between 6 April 2014 and 28 January 2021. Analysts are quoted as saying...

FCA to pause consumer commission complaints while review undertaken

The recent announcement by the FCA to act on Discretionary Commission Arrangement complaints has been anticipated for some time. Lenders and retailers alike have been watching the surge in complaints...

Lenders could face £10bn bill over car financing

Analysts suggest banks could face a £10bn compensation bill for unfair car finance deals. The FCA has announced an investigation into whether loans taken out before January 2021 were unfairly charged...

Auto Retail Agenda: 22 January 2024

LENDERS COULD FACE £10bn BILL OVER CAR FINANCING FRANCHISE OPPORTUNITIES AT NEW ENTRANT IMPORTER IA JCT600 BUYS LAND; LISTERS BUYS GUY SALMON JAGUAR STELLANTIS LAUNCHES EUROREPAR FOR INDEPENDENTS...

Survey finds many businesses are ready for FCA’s finance changes

In July the FCA confirmed that discretionary commission models will be banned from 28 January 2021, following a consultation in October 2019, and issued revised commission disclosure rules....

Commissioning a change of approach – what the FCA’s latest ruling means

The Financial Conduct Authority’s new ruling on commission models has been released – what does it mean for retailers? Around 90% of new cars are sold on finance, so when the Financial Conduct...

FCA confirms ban on discretionary commission

Discretionary commission models will be banned by the Financial Conduct Authority from 28 January 2021. The FCA has also issued revised commission disclosure rules. The ruling follows a consultation...

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