Each FLA division has an elected management committee which reports to the FLA Board. In addition to these committees, FLA has a range of groups, regular publications and e-mail mailing lists for different sector interests.
If your organisation is an FLA member and you would like to sign upto one of these groups or lists, please contact us.
Asset finance related groups
Asset Finance e-News
Email list which receives updates on issues affecting the Asset Finance market.
Senior Executives Group
Considers strategic themes which impact across the Asset Finance division. Director level only.
The Structured Asset Finance Group
This Group defines its remit within the ’big ticket’ or £20m+ end of the market. The group has been particularly successful in its work on leasing taxation regime. The Group has also been active in finding ways of raising the profile of the industry and its contribution to the UK economy, focusing on issues such as inward investment. In support of this work the group has commissioned both internal statistics and an independent survey by NOP. It is looking at how its market is developing and the commercial implications for structured asset finance of current tax and accounting developments.
The Middle Market Group
Members of the group define themselves, broadly speaking, within the £250K-£20m market. They are active in public sector work. The Group is looking at areas where the FLA might support its members in their current work with initiatives such as data sharing and anti-fraud measures, working with other FLA Groups. The Heavy Commercial Vehicles Forum merged in 2000 with the Middle Market group. The Group now also leads on operating leasing issues, including the commercial implications of leasing accounting. It also oversees the FLA’s Asset Management Convention, now an annual event.
The Technology Group
This group represents companies in the office equipment finance market and technology finance more generally. They include finance houses, bank subsidiaries and IT captive finance arms.
Asset Finance Fraud Group
This group develops guidelines on, and helps members implement, best practice in the prevention and investigation of fraud in the asset finance sector. It is open to full members and meets every two months.
Healthcare Forum
This deals with aspects of funding in the UK Healthcare arena . It meets as and when required and is open to Full and Associate members.
Local Government Forum
This Forum deals with aspects of Local Government financing, particularly marketing asset finance to local government.
Consumer finance related groups
Consumer Finance e-News
Email list which receives updates on issues affecting the Consumer Finance market.
Consumer Finance Division Management Committee
Management Committee for the consumer credit division. It takes final decisions on matters of key policy and the strategy of the division. Membership is at director and CEO level and is by election. The group meets quarterly.
Mortgages Group
For those members in the Consumer Finance Division with an interest in secured consumer credit (largely second mortgages). The Group responds to consultation documents issued by the FSA and Treasury on the future regulation of mortgages, plus other mortgage related issues and meets as and when required.
Motor finance related groups
Motor Finance e-news
Email list which receives updates on issues affecting the Motor Finance market.
Motor Finance Division Management Committee
Management Committee for the division. It takes final decisions on matters of key policy and the strategy of the division. Membership is at director and CEO level and is by election. The group meets quarterly. Full members only, though MARS (Motor Asset Registration Services) Associate Members are also eligible to attend meetings.
Motor Fraud Group
This group develops guidelines on, and helps members implement, best practice in the prevention and investigation of fraud in the motor finance sector. It is open to full members and meets every three months. The Detective Chief Inspector and Detective Sergeant responsible for the VFU also attend its meetings.
Asset Registration Group
Looks at issues affecting, and ways to improve, registration of financial interests with the agencies. Has issued Recommended Best Practice for Asset Registration and carries out audits of members’ data. It is open to full members of the Asset Finance and Motor Finance Divisions, plus the asset registration agencies. Meets quarterly.
DVLA Issues Group
Works to improve relationships with the DVLA and considers DVLA issues affecting the motor finance industry. Full and associate members. Administrative personnel, with knowledge of operational issues, middle management.
Groups open to all divisions
Credit Committee
Credit risk policy forum for senior credit managers from full members only. Covers all three divisions. Chair attends Consumer Finance Management Committee meetings as an observer and to report. Terms of reference include responsibility for FLA representation at SCOR meetings.
Credit Europe Group
Main focus is the implications of the EU Consumer Credit Directive. Meets as needed. Open to all members. Mixture of operational and legal personnel.
Legal Committee
Legal affairs policy forum, looks at the impact of all relevant regulatory change. Full members only. Meets monthly. Covers all three divisions. Senior qualified in-house lawyers.
Litigation Group
Forum for all members interested in dispute resolution, court procedures and collections work. Looks at regulatory change affecting those areas. Senior qualified lawyers or legal executives, either in-house or in private practice. Meets quarterly.
General Insurance Group
This covers general insurance matters as they affect members, with a focus on PPI, extended warranty and GAP. Open to all members. Senior insurance experts. Covers all three divisions. Meets quarterly but more often if necessary.
HR Forum
Forum for HR Personnel across all divisions. Open to full and associate members. Meets quarterly.
Money Laundering Group
Monitors the regulatory provisions in place to combat money laundering and their impact on the industry. Covers all three divisions. Meets as and when required. Provides a brief for FLA representation on the JMLSG . Senior compliance officers or MLROs.
Data Protection Group
Forum for Data Protection specialists from full and associate members across all three divisions. Meets every two months.
Accountancy Group
Accounting experts from full and associate members. Meets as necessary.
Direct Tax Group
Email group, pooling expert knowledge on any taxation matters affecting the Association. Tax experts.
Capital Adequacy Group
This Group is working on submissions to the Financial Services Authority and the European Commission on the new Accord on banking supervision. It meets as necessary and has a particular emphasis on asset finance but is open to all FLA members, both full and associate.
VAT Group
Group for full and associate members designed to liaise with HM Customs and Excise and discusses any VAT issue arising within any division of the FLA. Meets quarterly. VAT experts.
Compliance Forum
Primarily for employees employed in a Compliance function within the company. However, those who undertake internal audit, complaint-handling, or risk roles within their companies may also benefit from the areas considered by the Group. The Group will meet on a quarterly basis. Open to all members, both full and associate.
Regular publications
Update Newsletter
Monthly newsletter - sent electronically – covering aspects of lending and all topics FLA is currently working on.
Monthly Statistics
Summary of the FLA industry statistics.
Agenda
Concise quarterly briefing for senior management on all asset, consumer and motor finance related issues.
