News / Blog

Portfolio
How Regulation Promotes Healthy Competition in the Automotive Industry | Automotive Systems UK
How Does Regulation Promote Healthy Competition in the Automotive Industry?
16 Mar 2023

How Does Regulation Promote Healthy Competition in the Automotive Industry? The automotive sector is one of the sectors included within the industries regulated by the FCA. Negative competition can occur within the automotive sector; therefore, it is vital that automotive firms are aware of these destructive practices in order to spot and report them to the FCA.

Read More
How to Claim Compensation Due to Firm Failure | Automotive Systems UK
How to Claim Compensation Due to Firm Failure
09 Mar 2023

Even regulated financial firms can fail and cause financial, emotional, and practical loss and disruption or damages.
When this is the case, there are establishments and processes in place to help protect consumers and ensure they can claim compensation due to firm failure.

Read More
Consumer Duty: Regulation of the Automotive Sector | Automotive Systems UK |
What Effect Will Consumer Duty Have on the Regulation of the Automotive Sector?
09 Mar 2023

Regulation of the Automotive Sector: The new Consumer Duty will require firms to have more transparent communication with consumers. Regulation of the Automotive Sector: The new Consumer Duty will require firms to have more transparent communication with consumers. Consumer Understanding, Price & Value, Products & Services, Customer Support

Read More
4 major outcomes for consumer duty PS22/9 for 2023 & 2024
4 Major Outcomes for Consumer Duty to be Delivered
01 Feb 2023

4 Major Outcomes For Consumer Duty: The new Consumer Duty introduced by the FCA proposes stricter standards for the treatment of customers by firms within the financial market, which includes firms in the automotive dealership industry. More specifically, consumers are entitled to clear and comprehensible communication, products and services which fulfil their requirements and provide fair value, and that they are provided with an appropriate level of customer support whenever they should need it.

Read More
Appointed Representative Responsibilities
Is There Now More Expectation Placed on Appointed Representative Responsibilities?
24 Oct 2022

Through the Financial Conduct Authority’s Appointed Representative model, the responsibilities of an appointed representative (AR) are largely mitigated by the principal firm authorising their financial activities. However, due to the rising harm seen by the FCA during recent years, last year the FCA announced it would be tightening the regulations and responsibilities surrounding ARs and their principal firms for greater compliance.

Read More
The Rise in Financial Harm Across Regulated Markets
The Rise in Financial Harm Across Regulated Markets
17 Oct 2022

The recent rise in financial harm experienced by the Financial Conduct Authority, or FCA, within FCA regulated markets has meant the body has strengthened regulations surrounding Principals and their networks. This action signals the adaptability of the FCA in addressing the current requirements of the financial market, helping to keep the market stable and a safe space to operate in.

Read More
11 principles of business: 11 FCA principles of business
Treating Customers Fairly: What are the 11 Principles of Business?
05 Oct 2022

The Financial Conduct Authority’s 11 Principles of Business are guiding fundamentals a business must adhere to whilst regulated by the FCA. These principles communicate how a business must conduct itself and the standards the FCA will hold it to.

Read More
How are Vulnerable Customers Identified within FCA Regulated Markets and Industries?
09 Sep 2022

The Financial Conduct Authority regulates the UK financial market – which includes automotive dealerships. One of the key principles of the Financial Conduct Authority, also referred to as the FCA, is the protection of consumers through fair treatment (treating customers fairly, or, FCA TCF).

Read More
Reporting Suspected Market Abuse: Why It’s Important for your Team to be Knowledgeable and Vigilant
09 Sep 2022

The financial market is particularly susceptible to corruption – with the potential effects of this being devastating. It is particularly important, therefore, that when working within the financial sector such as at an automotive dealership, you remain vigilant about the common forms of financial corruption, including market abuse, reporting suspected market abuse as it arises.

Read More