FCA: “Dear CEO” letter to motor finance firms – maintaining adequate financial resources
12 Apr 2024
United Kingdom
1 min read
FCA has written to motor finance firms to remind them they must maintain adequate financial resources at all times. The regulator is currently reviewing the historical use of motor finance discretionary commission arrangements and has observed firms taking different approaches to account for the potential impact of previous use of DCAs on their financial resources and has set out its expectations of firms.
