Resource Library

The Supreme Court’s hearing on the motor finance judgment from October is taking place next week. The appeal will run from 1-3 April with a ruling expected in the weeks that follow. The case and its ongoing impact on the sector will lead the agenda of the first Compliance Forum of 2025, taking place on 28 May.

The Financial Conduct Authority (FCA) has published examples of Good and Poor Practice for supporting customers in vulnerable circumstances, as part of its Vulnerability Review. The output outlines some specific examples for members to apply to their businesses.

The BVRLA’s Legal and Membership Director Shashi Maharaj recently represented the BVRLA at the Lex Autolease Conference, where the association engaged directly with brokers on key compliance and regulatory challenges.

The BVRLA’s inspection partners have started contacting members to book their slots for 2025.

The Supreme Court has confirmed who will be able to make a formal intervention as part of a motor finance appeal case, which is set for April. The case will hear an appeal by finance firms after the Court of Appeal Commission Disclosure ruling in favour of the customers in October last year.

Members are advised to check they have adequate Financial Conduct Authority (FCA) permissions for the activities undertaken, and cancel any not being used to avoid fines.

The Chartered Trading Standards Institute (CTSI) has concluded that the BVRLA and European Car Rental Conciliation Service (ECRCS) provide an effective, and in some areas best practice, alternative dispute resolution (ADR) service. The conclusion comes as a result of an audit of the BVRLA in December 2024.

The Financial Conduct Authority (FCA) is considering how it can remove or simplify rules, having been challenged by the Government in December to support the UK’s growth ambitions.

The BVRLA’s Leasing Broker inspection programme has been updated to include further questions on commission disclosure and the October Court of Appeal judgement.

Permission has been granted for the three motor finance cases from 25 October’s ruling to be appealed. The Court of Appeal found in favour of the consumer in all three cases, with the rulings causing fundamental questions about the future of financing to be raised.

The High Court has found in favour of the consumer when reviewing a case relating to Discretionary Commission Arrangements (DCA). The case is not directly related to the separate the Court of Appeal rulings from 25 October (which were recently granted permission to appeal by the Supreme Court).

‘Challenge’ was the word on everyone’s lips at last week’s Industry Outlook Conference. Featuring industry leaders sharing their insights on the challenges of 2024 and expectations for 2025, the conference included thought-provoking keynotes, dynamic panel discussions and interactive breakout sessions.