Four commercial parties have challenged the scheme – Consumer Voice, Volkswagen Financial Services, Mercedes Benz Financial Services, and Crédit Agricole Auto Finance.
Brokers
We interview compliance headhunter Nick Litwinek in the first of a series designed to help compliance, risk, and legal practitioners to find, secure, and manage high-quality compliance talent across regulated industries.
Changes to the original scheme are a result of “conflicting feedback from consumers, their representatives, firms, manufacturers and industry bodies,” the FCA has said.
Our regular roundup of the latest news and developments from the FCA.
DFSA fines two firms for inadequate system controls, reporting failure and deceptive conduct.
The final figure of around £8.2 billion ($10.99 billion) is less than previous estimates, but good news for around 14 million people.
Millions of customers of motor finance schemes are expected to start receiving compensation from banks and lenders next year.
The regulator’s supervisory statement seeks to clarify its expectations of brokers in connection with client securities trading during times of market turbulence.