A report by the financial news paper the FT has found that vacancies at the FCA regulator are high, and morale is low
The FCA has published new rules for Appointed Representatives who will require greater supervision by principal firms
The FCA has issued a new Consumer Duty which sets the guidelines for finance sales by brokers to consumers and small businesses.
BCH set for strong growth IF you offer business contract hire, then you’re in the right place. If you don’t, you had better start thinking about how you can incorporate it in your brokerage. That’s the finding from broker funder Arval, which says it expects contract hire operating leases to boom, with fleets surveyed expecting to either increase the amount of BCH…
BROKERS will face higher Financial Conduct Authority (FCA) fees from this month when invoices will start appearing from the regulatory body. In particular, the consumer credit fees for regulated business goes up to a minimum of £1151, while business principals with Appointed Representatives (ARs) will have to pay a much higher figure of £250 for each AR on their books. The changes…
FCA’s Consumer Duty places more emphasis on TCF TO BE honest, it’s hard to know quite where the crosshairs of the FCA’s new Consumer Duty law are pointing. All brokers I speak to are absolutely committed to treating customers fairly. It’s become engrained, part of the DNA. One clue, though, is that the FCA is searching for firms that provide information in…
THE BVRLA has written to the FCA objecting to the proposed fee increase for regulated brokers and particularly the new fees surrounding appointed representatives (ARs). Brokers could be facing a significant rise if the proposed fees go through: a rise to £1151 for regulated brokers; and £250 for every AR. In its response, the BVRLA raised concerns concerning the timing of the…
A NEW level of consumer protection is being proposed by the FCA for regulated leasing brokers. Although brokers are already guided by FCA rules around treating customers fairly, the FCA says the new Consumer Duty will provide further defence against poor customer outcomes. The FCA says it wants Consumer Duty to “drive a shift in culture and behaviour for firms, meaning that…