FCA to ban car dealer's discretionary finance commission
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 called for an outright ban on the use of Increasing Difference in Charges (DiC), Reducing DiC and Scaled commission models in a bid to end a situation which can see car dealers offering higher interest rates rewa
Insurance Distribution Directive - CPD training - Are you ready?
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 of continuing professional development (CPD) each year. Employers must also establish, maintain and keep appropriate records to demonstrate compliance with employee knowledge and ability requirements in areas suc
