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The latest news from ComplianceTrak and the industry

September 11, 2020

A number of areas of General Insurance (GI) including GAP and scratch and dent insurance have come under new FCA scrutiny in recent weeks in a new thematic review of GI. The report could well signal further changes to the distribution model of these products.

On April 1...

September 11, 2020

The Financial Conduct Authority (FCA) has opened a consultation in a bid to ban car retailers’ discretionary finance commission model – saving UK car buyers an estimated £165 million a year.

As previously predicted by industry commentators, the Authority’s review had ca...

August 6, 2020

The Finance and Leasing Association (FLA) has said that the consumer used car finance sector’s 9% growth by value and 2% by volume drove a market “bounce back” in June.

Although overall business volumes in the first half of the year were 32% lower than the same period i...

November 20, 2018

Under the Insurance Distribution Directive which came into force on the 1st October 2018, any sales staff and anyone else involved in insurance distribution, selling, or transacting on insurance contracts for all types of insurance must complete a minimum of 15 hours o...

September 13, 2018

Lawyers who led large-scale PPI mis-selling claims are poised to turn their attention on PCPs following the conclusion of the Financial Conduct Authority’s (FCA) investigation into car finance, it has been claimed.

Car finance expert and ex-NACFB director Graham Hill be...

September 7, 2018

Car buyers’ lack of awareness about car dealers’ obligations when selling finance products suggests a “high potential for mis-selling of F&I products”, according to Alphera Financial Services.

The finance provider’s newly-published Consumer Attitudes to Car Finance repo...

August 1, 2018

The Financial Conduct Authority has revealed that its GAP insurance sales legislation has led to an average fall in car dealers’ sales of the add-on insurance product of between 16 and 23%.

The FCA published the results of a report into the effects of new compliance leg...

May 30, 2018

Exciting news! We are very pleased to announce the launch of our new E-Learning platform OnTrak.

OnTrak gives your business the functionality you need to support a truly modern training programme, delivering up to date compliance training courses, saving you administrat...

May 10, 2018

The majority of motorists don’t know that dealers’ sales staff should discuss their financial details when buying a car in finance.

A study by Alphera Financial Services revealed 64% are unaware of salespeople’s obligations around understanding a customer’s financial ne...

April 25, 2018

ComplianceTrak is pleased to confirm that we will be exhibiting our compliance software ComplianceTrak at the CDX18 motor trade event on 21st - 22nd May at Manchester Central Convention Complex.

More than 1,500 delegates attended the free event last year, but 2018...

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FCA to ban car dealer's discretionary finance commission

September 11, 2020

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