2019 was another year of the acronym – WLTP, CAZ, FOS, FCA, and how could we not mention another GE and Brexit?
Regulation continues to be a focus for the committee and with the recent introduction of SM&CR regime the BVRLA has conducted a number of webchats to provide guidance and support. This area continues to be one of the major challenges facing the leasing broker community. And where one challenge is swiftly overcome yet another seems to come rapidly to the fore.
During 2019 we saw the FCA delve deeper into the workings of the motor finance sector, and most recently the regulator communicated that they were consulting on the proposal of banning DIC commission models.
The committee will be working closely with the BVRLA and the regulator to provide support and clarity to brokers where possible. All findings and advice will be communicated through the usual BVRLA channels.
My final comments as chair of the BVRLA Leasing Broker Committee is to wish you and yours a fabulous Christmas. All committee members look forward to working on our members’ behalf in 2020.
Alan Carreras, chair of the BVRLA Leasing Broker Committee and managing director of the Bridle Group
Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.
