FLA's response to FCA's Motor Finance Report

Commenting on the FCA's Motor Finance Report, Adrian Dally, Head of Motor Finance at the FLA, said,

"We welcome the FCA’s recognition of the work done by motor finance lenders to provide training for motor dealers, and the positive impact this has had in meeting customer needs. Regarding the FCA’s concerns about commission structures, their survey work is based largely on out-of-date information, and therefore does not reflect the very considerable progress the market has already made in moving away from such structures. We look forward to working with the FCA as it modernises its regulations in line with market best practice."