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The FCA highlighted that it is pleased to see that the Consumer Duty has further heightened firms’ focus on ensuring good outcomes for customers in a vulnerable situation. Protecting customers in such situation was outlined to remain a key priority for the regulator.

The Financial Conduct Authority (FCA) has published examples of Good and Poor Practice for supporting customers in vulnerable circumstances, as part of its Vulnerability Review. The output outlines some specific examples for members to apply to their businesses.

The Financial Conduct Authority (FCA) has confirmed that it no longer expects firms to have a Consumer Duty Board Champion.

The Financial Conduct Authority (FCA) is considering how it can remove or simplify rules, having been challenged by the Government in December to support the UK’s growth ambitions.

A pair of guidance documents exploring good and bad practice have been published by the Financial Conduct Authority (FCA), looking at approaches to Complaints and Root Cause Analysis, as well as Consumer Duty Board Reports. Both guidance documents are designed to support firms to learn and improve.

Customer vulnerability and the impact of regulation were among the topics discussed at the final BVRLA Compliance Forum of the year.

The Financial Conduct Authority (FCA) has fined Volkswagen Financial Services (UK) Limited (Volkswagen Finance) £5,397,600 for failing to treat its customers in financial difficulty fairly. Volkswagen Finance has agreed to pay over £21.5m in redress to around 110,000 customers who may have suffered harm because of its failings.

Last week’s Leasing Broker Conference saw the sector gather to discuss the evolving landscape of the leasing industry. A thread through the whole event was how to adapt for future success, with attendees given a valuable opportunity to hear about the key trends and innovations that will shape the industry in the coming years.

The upcoming Compliance Forum will shine a light on the full customer journey and explore the ways in which members need to ensure they are operating in a compliant way. Wayne Gibbard from Shoosmiths will be talking to delegates about origination activity and the customer journey, before Chris Fitch from The Money Advice Trust will speak on the importance of recognising Customer Vulnerability, and regulation in this space.

The final Compliance Forum of 2024 will take place on 30 October at the Shoosmiths office in Bow Churchyard, London. Starting at 10 am, the event will include lunch and provide excellent networking opportunities with peers, as well as the chance to stay ahead of critical compliance developments.

The BVRLA’s Regulation and Compliance Working Group will be meeting online on Wednesday 2 October and it is still possible for members to attend.

Brokers will have the opportunity to connect and stay ahead in a rapidly evolving industry, thanks to the BVRLA’s upcoming Leasing Broker Conference. The countdown is on to a packed agenda of expert speakers, insights, and unparalleled networking.