The FCA has conceded that Consumer Duty rules are overlapping with existing regulation and will now look to strip back red tape and “streamline” its regulatory rulebook. The financial watchdog...

FCA PLEDGES TO CUT RED TAPE CAZOO: ‘AGGRESSIVE EXPANSION’ A FACTOR IN FAILURE LITHIA UPS STAKE IN PINEWOOD MOTORCYCLE RETAILERS DISSATISFIED, NMDA SURVEY REVEALS LITHIA Q2 RECORD REVENUE BUT...

As this week’s Consumer Duty ‘good outcomes’ deadline approaches, FCA executive director Sheldon Mills has been profiled by The Sunday Times. Adopted by his grandparents at five, he grew up in...

INDUSTRY AWAITS LABOUR PLANS FOR UK EV POLICY ‘SHAMBLES’ FCA’S SHELDON MILLS PROFILED KPMG LOSES PINEWOOD MOTORPOINT’S CARPENTER SELLS 100,000 SHARES CINCH FD REMAINS IN PLACE FIRST CHINESE...

New analysis from online search visibility company Sistrix has revealed a huge spike in online search volume for ‘Martin Lewis car finance’ that coincides with the FCA’s investigation into...

EXCLUSIVE: NFDA ON THIS WEEK’S GENERAL ELECTION MOTORPOINT SLASHES BONUSES FOR CARPENTER, MORGAN MOTORS ADMITS ‘MIXED SENTIMENTS’ IN ACQUIRING CAZOO CDK DMS CYBERATTACK COULD COST US RETAILERS...

The FCA is likely to delay its judgement on Direct Commission Arrangements (DCA) beyond its 26 September deadline due to an ongoing court case, senior lawyers told attendees at a VRA member meeting...

MARSHALL TO REPLICATE PENRAGON DIVISIONS? FCA DCA DEADLINE PUSHBACK INTO 2025 ‘LIKELY’ AUTO RETAILERS IN RICH LIST 2024 FIRST FISKER RETAILER OPENS IN NOTTINGHAM AUTO RETAIL LIVE BUSINESS BOOSTER...

COX ‘CAUTIOUSLY OPTIMISTIC’ ABOUT USED CARS IN 2024 UK URGED TO AVOID US 100% TARIFFS ON CHINESE CARS FOS HAS 20k MOTOR FINANCE COMPLAINTS AUTO RETAIL LIVE BUSINESS BAROMETER CHINA RETAILERS DITCH...

EV DISCOUNTS MOUNTING AS OEMS AIM FOR 22% MIX AUTO RETAIL LIVE BUSINESS BOOSTER CHIPPENHAM KIA ON SALE FOR £5m KIA EV EDUCATION AT RETAILERS US PUBLIC RETAILERS IN PROFIT PRESSURE 10 ASBURY RETAILERS...

SUBARU EMBRACES RETAILERS IN RENEWED PUSH RNLT: RENAULT’S NEW URBAN STORE CALL FOR SCRUTINY OF UK REGULATORS INCLUDING FCA BUSSEYS FORD MARKS 100 YEARS – AND BYD JOINS FORD IN SHEFFIELD EV SALES...

Motorists anticipating a PPI-style windfall from historic discretionary commission Arrangements (DCA) may have longer to wait following action last week by Barclays. The bank has filed a legal...

BARCLAYS DCA MOVE MAY DELAY COMPENSATION MORE BIG MOTORING WORLD RESIGNATIONS CONSTELLATION CLOSES CAR SUBSCRIPTION SERVICE TESLA ‘ZERO SERVICE’ PLANS VINFAST SEEKS NETWORK DEVELOPMENT MANAGER BMW...

FTSE 250 merchant bank Close Brothers has launched a £400m capital plan to strengthen its balance sheet amid the FCA review into car finance. Close Brothers has by far the most car finance exposure,...

EXCLUSIVE: HYUNDAI PLANS NETWORK RESTRUCTURE CLOSE BROTHERS’ £400m FCA FIGHTING FUND USED CAR DEALER CLOSES OWNING £430k NETWORKS REPORT NOW ON SALE MERCEDES DEFENDS GERMAN RETAILER SALE CARVANA...

FCA chief Nikhil Rathi said last week it was “improbable we will find nothing to report as we look at historic motor finance sales”. Some companies were ‘almost certainly’ guilty of failings...

FCA: COMPANIES ‘ALMOST CERTAINLY’ GUILTY OF DCA FAILINGS STRATSTONE BYD BIRMINGHAM ‘PERFECT’ TRIUMPH ALEX CHESTERMAN TO SHARE £30m WINDFALL CATCH UP WITH AUTO RETAIL LIVE VOLVO EYES DTC IN...

Banks are in a “holding pattern” as the FCA investigates whether there has been systematic harm with discretionary commission models, says Kate Robinson from regulatory adviser Avyse Partners....

FCA LOANS INVESTIGATION ‘NOT BLACK AND WHITE’ OCTOPUS BORROWS £550m TO DOUBLE EV LEASING FLEET PEBLEY BEACH’S DOMINIC THRELFALL RETIRES JCB GROUP RENEWS BCA REMARKETING DEAL VINFAST BEGINS RHD...

On 11 January 2024, the FCA announced that it is looking into motor finance complaints for certain types of motor finance sold between 6 April 2014 and 28 January 2021. Analysts are quoted as saying...