Motor finance commissions redress: What the FCA’s consultation means for lenders and brokers

Your concise breakdown of CP25/27: scope, risks and what firms should be doing now

The FCA’s consultation on historic motor finance commissions (CP25/27) was published earlier this month but if you haven’t had time to work through all 500+ pages, we’ve now pulled together a summary.

 Our update explains:

• Which firms and agreements are in scope (including lenders, brokers and dealers from 2007–2024)

• The FCA’s proposed redress calculation methodology including the hybrid and APR adjustment models

• Operational impact and expectations including governance, data readiness, customer letters and SMF accountability

• The role and obligations of brokers 

• Key dates for consultation responses and when the scheme could go live

You can download the summary here / by filling in the form below.

Auxillias on Demand

And if you want flexible day-to-day support as things start moving quickly, Auxillias on Demand is our fixed-fee retainer for legal, regulatory and compliance advice, no long-term contract, immediate access to our senior team for day-to-day questions and guidance on the redress scheme and wider compliance. More details here.