LONDON: The UK Financial conduct Authority (FCA) has confirmed it will introduce a ban on discretionary commission models. This followed a consultation in October 2019. Currently, some car retailers and motor finance brokers receive commission which is linked to the interest rate that customers pay – creating an incentive to sell more expensive credit to…
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UK’s FCA to make mini-bond marketing ban permanent
LONDON: The UK Financial Conduct Authority (FCA) has announced proposals to make permanent its ban on the mass-marketing of speculative illiquid securities, including speculative mini-bonds, to retail investors. The FCA introduced the ban without consultation in January following concerns that speculative mini-bonds were being promoted to retail investors who neither understood the risks involved, nor…
FCA confirms support for customers struggling to pay their mortgage due to coronavirus
LONDON: The Financial Conduct Authority (FCA) has confirmed the support firms should give to mortgage customers who are either coming to the end of a payment holiday or who are yet to request one. The FCA is also reminding customers that if they can afford to resume payments, they should. For customers still experiencing temporary…