Tag: Financial Conduct Authority

Comments Off on FCA Extend Period of Implementation on Consumer Duty

FCA Extend Period of Implementation on Consumer Duty

Retailers have been given an extra three months to implement the FCA’s new Consumer Duty. The extra time will allow them to “fundamentally improve” how they sell finance to consumers. The new Consumer Duty guidance from the FCA will concentrate on “good outcomes” rather than giving specific legislation. While the new Consumer Duty focuses on […]

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Comments Off on FCA Confirms Ban on Discretionary Commission

FCA Confirms Ban on Discretionary Commission

The Financial Conduct Authority will ban discretionary commission models from 28 January 2021. The FCA has also issued revised commission disclosure rules. The ruling follows a consultation by the FCA in October last year. Some car retailers currently receive commission which is linked to the interest rate that customers pay.  This creates an incentive to […]

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