Dear Colleague,
This week, we wrote to the Chancellor of the Exchequer, the Rt Hon Rishi Sunak MP and Alok Sharma, Secretary of State for Business, Enterprise and Industrial Strategy, to urge the Government to protect franchised retailers during the outbreak of the Coronavirus through supportive fiscal measures. Additionally, we called on the Government to reassure businesses that service and repair workshops in franchised dealerships will not be closed. Please find more details below.
Our legal team and solicitor partners have prepared a number of guidance documents to assist you in dealing with these challenging times. These include HR & Employment advice, summaries the financial measures announced by the Government as well as regular updates on issues that affect automotive retailers. Please find more information below and on our website. A number of measures announced by the Chancellor require further clarification, we will continue to update our members as we obtain more details.
The Financial Conduct Authority (FCA) has communicated that due to the Coronavirus outbreak, the publication of its final policy for commission models and disclosure has been delayed. The FCA has not communicated a precise timescale yet.
The NFDA Spring Ball due to take place on 25 April has been postponed, we will confirm the new date soon.
NFDA is the voice of automotive retailers: if you require any assistance, especially during these challenging times, please contact our member helpline at 01788 538303 or email nfda@rmif.co.uk.
Sue Robinson, NFDA Director
