THE FCA will ban discretionary commission effective 28 January, 2021. The ban follows a consultation period that began in October 2019. The FCA says consumers are disadvantaged by higher costs from discretionary commission models charged by motor finance brokers and dealers. And that it acts against the interests of the customer. Christopher Woolard, the FCA’s interim chief executive, said: By banning this…
LEASING brokers voted substantially against displaying the amount of commission received on a lease deal. Asked whether commission transparency was a good thing, nearly 78% of brokers polled voted against the idea; 11% were happy to disclose the commission on the sales agreement; and 11% thought there were other ways to do it. The poll vote follows the announcement by west country…
CARPARISON has taken the decision to provide full commission disclosure on its website. What are your thought on this? Loading… Ralph MortonRalph 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…