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What to Expect in an FCA Consumer Credit Compliance Audit | My Compliance Consultant UK

What to Expect in an FCA Consumer Credit Compliance Audit

Navigating a Financial Conduct Authority (FCA) compliance audit can feel daunting, but understanding what to expect can help your business prepare effectively and minimise disruption. At My Compliance Consultant, we have extensive experience supporting firms across the UK through every stage of the FCA audit process, ensuring full compliance UK standards are met. Here’s a […]

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Cost of Non-Compliance | My Compliance Consultants

The Cost of Non-Compliance in the Consumer Credit Regulatory Sector

In the consumer credit regulatory sector, compliance is not only a legal requirement it’s fundamental to trust, credibility, and sustainability. We frequently witness the consequences firms face when they fail to meet the standards set by the Financial Conduct Authority (FCA). Every day, the FCA publishes notices highlighting why certain firms lose their authorisation. While

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Supreme Court Rejects Rachel Reeves’ Motor Finance Intervention

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

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🎉 My Compliance is 5 Years Old! 🎉

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

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My FCA

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

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Information for firms on motor finance complaints

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

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Rachel Reeves Intervenes

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

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FCA Application Notice

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

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January Newsletter

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

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