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The Financial Conduct Authority (FCA) has fined Volkswagen Financial Services (UK) Limited (Volkswagen Finance) £5,397,600 for failing to treat its customers in financial difficulty fairly. Volkswagen Finance has agreed to pay over £21.5m in redress to around 110,000 customers who may have suffered harm because of its failings.

It was reported on Friday that the Court of Appeal ruled on three motor finance cases relating to commission arrangements in favour of the consumer.

With a new year on the horizon, the rental and leasing industry again faces significant changes and challenges. December's Industry Outlook Conference offers an invaluable opportunity to prepare your business for the future, with expert insights, practical advice, and peer-to-peer engagement.

Tens of thousands of UK businesses are already required to report on sustainability data, with that number only due to grow. Do you understand your requirements under incoming regulations? Do you know what your business should be reporting on to show compliance?

The next BVRLA ESG (Environmental, Social, Governance) Working Group meeting will be taking place on Tuesday 19 November.

Maintaining high standards and customer confidence is essential for BVRLA members, and the association’s Rental Inspection Programme has recently been upgraded to strengthen compliance and accountability across the sector. Key contacts at affected members have been notified of the changes.

Last week’s Leasing Broker Conference saw the sector gather to discuss the evolving landscape of the leasing industry. A thread through the whole event was how to adapt for future success, with attendees given a valuable opportunity to hear about the key trends and innovations that will shape the industry in the coming years.

The upcoming Compliance Forum will shine a light on the full customer journey and explore the ways in which members need to ensure they are operating in a compliant way. Wayne Gibbard from Shoosmiths will be talking to delegates about origination activity and the customer journey, before Chris Fitch from The Money Advice Trust will speak on the importance of recognising Customer Vulnerability, and regulation in this space.

Don’t miss this vital event for covering all corners of BVRLA membership sector. The Industry Outlook Conference offers a valuable opportunity for vehicle rental and leasing professionals to hear from industry experts as they discuss the key challenges and opportunities businesses could face in 2025.

The final Compliance Forum of 2024 will take place on 30 October at the Shoosmiths office in Bow Churchyard, London. Starting at 10 am, the event will include lunch and provide excellent networking opportunities with peers, as well as the chance to stay ahead of critical compliance developments.

The BVRLA’s Regulation and Compliance Working Group will be meeting online on Wednesday 2 October and it is still possible for members to attend.