Motor Commissions: Preparing for Redress
Understand the FCA’s proposed redress scheme, what we can expect and how affected firms can be ‘redress ready’ in time.
Watch VideoThe FCA have announced their intention to implement a redress scheme for undisclosed commissions around motor finance.
As we wait on the results from their consultation, what are the possible ramifications for the industry and what can be done now to prepare for remediation?
We welcomed Dan Richards, Head of Remediation Programmes at Auxillias to delve into:
- The Supreme Court rulings and the ripples they are having across the industry
- What we might be able to predict from the FCA based on past events like the PPI scandal
- Why firms are being advised to be ‘redress ready’ for early 2026 and how to go about this
- Opt-in vs opt-out redress, as well as the interplay with Consumer Duty
- The true cost of remediation including operational considerations
- The challenges from data decay, how to solve them and likely FCA expectations
- How lenders need to build claims management companies into their strategies
- The rise in scam activity and how fraudsters are exploiting the situation
A lot of important ground covered – catch up on the action now!
Speakers: Mike Abraham, Sales Manager at LexisNexis® Risk Solutions and Dan Richards, Head of Remediation Programmes at Auxillias
The opinions expressed here are those of the contributors and do not necessarily reflect the views of LexisNexis® Risk Solutions or its partners.
Speakers: Mike Abraham, Sales Manager at LexisNexis® Risk Solutions and Dan Richards, Head of Remediation Programmes at Auxillias
The opinions expressed here are those of the contributors and do not necessarily reflect the views of LexisNexis® Risk Solutions or its partners.
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