Staff incentives, remuneration and performance management in consumer credit firms
In July 2017, the FCA consulted on non-handbook guidance in consultation GC17/6. The consultation sought views on guidance to assist firms in identifying features of their incentive or performance management arrangements that might give rise to potential harm to consumers, and ways they can more effectively manage those risks. The FCA have now published their final guidance on how consumer credit firms should manage risks related to how they pay and manage the performance of
FCA to continue investigation into motor finance sector
The Financial Conduct Authority has said that it will continue investigations into the “risk of harm” posed by motor finance, with its final findings expected to be delivered in September. In its FCA motor finance investigation update, published today, the FCA revealed that it had already concluded that “the largest lenders’ approach to credit risk and asset values appears robust” and that “consumers in the lowest credit score range account for a relatively small share of mot
