FCA Unlock New Fears.

An Impromptu Newsletter today but a worthy one from conversations happening.

Most Motor Dealers are feeling like there’s no let up at the moment.

And now the FCA (Financial Conduct authority) drops some big news. New fears are unlocked and bums are twitching.

The news is about banned commission models and disclosures. The models have been in play since 2021 but now their heading back prior to this date where there was also guidance in place.

We know it’s there to protect consumers but the feedback from most level playing retailers is that they there doing their best to get everything right,

There's definitely some frustration brewing.

Dealers are constantly trying to keep up to date with policies and under the new regime the FCA are stating that customers will now have 15 months to refer their complaints instead of the usual 6 months

My question:

Does it feel like everything’s getting harder for retailers and does it feel like a battle now more than ever?

Nick McDonald wrote a great post. If you want to keep your finger on the pulse speak to The Compliance Guys Ltd

Nick mentioned:

We can't be sure what the final outcome will be yet but it does mean that the ambulance chasers (legal claims companies) should back off for a while. Our advice is to ensure that your complaints procedures are followed.

#fca #automotive #automotiveindustry #automotivenews