The Approved Person Regime has been replaced by the Senior Managers and Certification Regime. The SM&CR has changed the way that those who work in financial services are regulated. The SM&CR is intended to bring about positive change in the financial services industry.

ASUKL has a software system called TCF or Treating Customers Fairly. This software is combined with FCA compliance and a reporting facility to provide a single platform that will allow proper automotive compliance to drive better performance.

KPIs (Key Performance Indicators) are important (key) indicators of progress toward a goal. KPIs serve as a focal point for strategic and organisational change, providing an objective foundation for decision-making and focusing attention on the most important issues.

The automotive industry is a competitive industry and as such, you will be keen to provide the best service possible for your customers. As part of this, you might want to make your cars, motorbikes and other vehicles more affordable for them, as this will naturally incur more sales for your dealership.

The Treating Customers Fairly (TCF) principles emphasise that all FCA-bound firms need to hold customers dearly at the centre of their business models. Consumers prioritise value for money, and they often seek products from trusted brands.

SM&CR – also known as The Senior Management & Certification Regime – is legislation that applies to the United Kingdom’s finance sector, and that was put in place in order to reduce harm to consumers and strengthen market integrity.

As a business owner of a car dealership or automotive service, you are constantly looking to balance your goal of making money with the need to keep customers happy while also satisfying legal regulations. As such, knowing how to achieve a positive Return On Investment with FCA compliance.

Being FCA compliant is important for any business operating within a financial market. By being FCA compliant and following their principles, not only will you be treating customers fairly, but you will also find customers are more willing to use you when they require your financial services.