Compliance & risk management
10 Minutes With...Bill Fennell, chief ombudsman at The Motor Ombudsman
AM interviews Bill Fennell, head of The Motor Ombudsman, who discusses the heighted regulatory scrutiny, the watchdog's plan to introduce artificial intelligence to manage an ever-increasing case load and the ombudsman's role in the adoption of EV technology.
Why the Financial Ombudsman Service rulings prompt a FCA probe into discretionary commission car loans
Two recent car loan misselling cases heard by the Financial Ombudsman Service (FOS) against Black Horse Motor Finance and Barclays Partner Finance have been mentioned by the FCA as particularly influencing its decision to dive deeper into this issue.
5 Minutes With... Alex Royall, director, Alphera Financial Services
In this latest '5 Minutes With' interview, I ask Alphera Financial Services director Alex Royall about some of the work UK motor retail is doing ahead of changing FCA regulation, including affordability checking when a consumer wants to buy a car.
News insight: car dealers' data obsession has cybercriminals circling
Car retailers have been told “there is no silver bullet” in the fight to avoid potentially devastating data-grabbing cyberattacks as high-profile AM100 businesses continue to recover from hits on their digital systems.
Fixed rate finance model makes franchised car retailers 'transparent and fair'
The future of franchised retailers’ motor finance FCA ruling on discretionary commissions has lead to greater transparency, but few dealers are reporting any noticeable variation to income as a result.
FCA's new Consumer Duty makes transparency and consistency vital in car finance
With December’s publication of the Financial Conduct Authority’s (FCA) second consultation on its new all-encompassing Consumer Duty protocols and the automotive retail sector now subject to commission disclosure regulations, motor finance has once again been reassessing how it operates.
Are car retail’s new FCA regulations having the desired effect?
Six months on from the introduction of new Financial Conduct Authority (FCA) regulations, automotive retailers should be starting to see an impact on average commission levels as they adapt to a new way of working.