The FCA Consultation Paper announcement marks the move from traditional motor finance commission models – which incentivise the dealer/broker to raise customer interest rates in order to get higher commissions – to an approach that provides more positive outcomes to car buyers. As we saw in the report from earlier this year, the FCA want…

Hardly a day passes without there being a new report on shrinking manufacturing output, increasing costs to business and fears of an emerging global recession. UK manufacturing activity is at its lowest level since July 2012; sales to the EU have dipped as European purchasing managers look closer to home in Brexit uncertainty; and US…

The benefits of adopting new technologies, such as artificial intelligence (AI), are not always immediately apparent for businesses in all industries and sectors. But for the risk sector, it is now obvious that there are enormous gains to be made. Its application can serve a wide range of functions – including fraud detection, risk management,…

Let’s talk about representative APRs. Those enticing little percentages that influence a consumer’s decision to apply for one loan product over another. Far too often excitement turns to disappointment when they get down to the fine print and discover that the headline percentage was too good to be true, usually after going through the extensive…

While an increasing focus has been given over to the FCA’s review of motor finance, only limited reference has been given to the escalating regulatory scrutiny of almost all regulated firms by the introduction of the Senior Managers & Certification Regime (SM&CR). SM&CR, which is due to be implemented in the consumer credit sector on…

As far back as 2013, we said in a press release titled ‘Government is letting small to medium size businesses down’ that the Prompt Payment Code needs a complete overhaul as it clearly isn’t fit for purpose. We also said that it needs to be given real powers to be able to act effectively on…

Following the banking crisis in 2008, the Parliamentary Commission for Banking Standards (PCBS) recommended the creation of a new framework focused on increasing senior management accountability. Based on this recommendation, Parliament passed legislation in December 2013 that prompted the primary regulators of the financial services sector, the Financial Conduct Authority (FCA) and Prudential Regulation Authority…

We get a lot of calls from clients having received letters promising that all their business debt problems will be gone, usually by the way of Company A buying Company B for the nominal sum of £1. As you read further into it there are also fees of £5,000 to pay to handle the process.…

The recent ‘Car Buyers Report’ by AutoTrader has once again got the automotive industry talking – particularly around a common frustration and mistrust of the vehicle purchasing process on behalf of the consumer.  Of those polled, 14% of respondents thought the customer journey had worsened, while more than half believed the car-buying experience had remained…

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