At the start of March, the FCA issued its final findings in respect of the motor finance industry. We’ve taken the time to review the findings and have outlined our next steps, as well as sharing some good housekeeping reminders given that asset finance broking could attract closer attention from the FCA in the months ahead.
You can find out more in a direct letter to all of the Association’s asset finance brokers below, although this is just some initial guidance.
We are engaging with the FLA to share views and will be undertaking more detailed discussions with the FCA. We are also planning to establish focus groups of Members and Patrons to ensure that the way forward and guidance reflects the view of our stakeholders.
You can view the letter to asset finance brokers from NACFB CEO, Graham Toy, below.:
The May issue of our Commercial Broker magazine also features more insight from Asset Finance Policy’s Justin Rose and vehicle finance broker Graham Hill – both sharing their views on the FCA report. Read the online issue here.