Regulators must prioritise growth impact
Regulators must prioritise growth impactJun 10, 2024
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The impact of an increasingly regulation-led marketplace on the competitiveness of the UK auto and asset finance industryUK Parliament’s all party parliamentary group for fair business banking called for an extension of the FCA regulatory perimeter to include SMEs last week. They also suggested raising the threshold for the Financial Ombudsman so that larger SMEs can refer disputes to FOS rather than to seek redress through the courts.
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Commission disclosure: between a rock and a hard place?The Finance and Leasing Association (FLA) has decided not to mandate commission disclosure as part of its lending code currently, opting to wait for the Financial Conduct Authority (FCA) to lead the way, in a move which has split opinion and thrown open the debate once more on whether, when, and how the amount as well as the existence of commission payments should be presented to buyers entering a financial agreement.
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