The FCA have issued an update on the Consumer Duty and what they expect from firms, below is an overview of the key points and link to the full document. Consumer Duty – information for firms | FCA
Consumer Duty – information for firms Read More »
In a significant development within the UK’s motor finance sector, the Supreme Court has denied Chancellor Rachel Reeves’ attempt to intervene in a landmark case concerning the mis-selling of car loans. This decision has profound implications for lenders, consumers, and the broader financial landscape. Background of the CaseThe controversy centres on undisclosed commissions paid by
Supreme Court Rejects Rachel Reeves’ Motor Finance Intervention Read More »
Celebrating a significant milestone, My Compliance Consultant proudly marks its 5th anniversary. Since our establishment in February 2020, we’ve been dedicated to providing exceptional consultancy services, ensuring our clients achieve and maintain full compliance with the Financial Conduct Authority (FCA) regulations. Reflecting on Our JourneyOver the past five years, we’ve expanded our suite of services
🎉 My Compliance is 5 Years Old! 🎉 Read More »
My FCA to launch in spring 2025 The FCA have just announced that they will be launching their single point of sign in where you will be able to access Connect, RegData and and the FCA register using your existing user details. For full Information please see link below. https://lnkd.in/etg97Zqx
The Financial Conduct Authority (FCA) has updated its guidelines for handling motor finance complaints, particularly those involving non-discretionary commission arrangements (non-DCA). Key changes include: Firms are advised to ensure adequate resources for investigating complaints and consider financial provisions for potential redress. Information for firms on motor finance complaints | FCA
Information for firms on motor finance complaints Read More »
According to the FT.com, the Treasury has sought permission to intervene in the upcoming Supreme Court case after several banks and lenders in the sector became exposed to multi-million Pound fines following a court case in October last year. The Treasury has warned that last year’s case could damage Britain’s reputation as a place to do business. Reeves
Rachel Reeves Intervenes Read More »
Introduction and Summary The Financial Conduct Authority (FCA) seeks to intervene in appeals involving Close Brothers Limited, FirstRand Bank Limited, and motor finance. The FCA aims to provide the Court with insights on interpreting its rules, the interaction between private law remedies and the regulatory framework, and the broader motor finance market context. Background to
FCA Application Notice Read More »
NEWSLETTER New For 2025 My Compliance Consultant have been working on a new Compliance Monitoring Programme web-portal which should be launched at the end of January. This will supersede the excel format version and will be accessed with your own login details. A monthly call with MCC will be an option for those firms who
January Newsletter Read More »
About 1,200 caravan owners across the UK, many of whom say they feel “ripped off”, are to begin legal action against the holiday parks that sold them. Members of the Holiday Park Action Group (HPAG) are seeking compensation for what they say are unfair increases in annual pitch fees and misleading claims about the value
Ripped off caravan owners start compensation bid Read More »
Making a complaint Any consumers concerned that they weren’t told about commission and may have paid too much for their car finance, should complain. We have also confirmed that consumers will have until the later of 29 July 2026 or 15 months from the date of their final response letter from the firm, to refer a
Consumers Making a Complaint Read More »
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