Dear Colleague,
We are currently awaiting the FCA’s final version of its new Consumer Duty. The new Duty will build on the existing principle of ‘Treating Customers Fairly’. However, it is not just about new processes, but will require businesses to adopt a more consumer focused culture when it comes to providing financial products such as PCPs. The NFDA is working on a support package for members to help them embed this in their businesses.
This week we held the NFDA Northern Regional meeting in Leeds. The meeting saw lively discussion on current market conditions for new and used cars. Members were also updated on finance and insurance issues including commission disclosure and the Consumer Duty; Electric Vehicles and the EVA scheme; Manufacturer relationships including Block Exemption and agency; and aftersales issues such as MOT. Our final round of Regional Meetings will take place next Thursday 30 June in Bristol. If you would like to attend, please contact lena.patel@rmif.co.uk.
NFDA Is the voice of automotive retailers – if you require any assistance, please do not hesitate to contact your member helpline at 01788 538303 or email nfda@rmif.co.uk
Sue Robinson, NFDA Chief Executive
