Governance, Risk & Compliance

Collections in 2020: What Comes Next?

Collections: What Comes Next?

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Nearly I.2 million people in the UK have made use of Payment Holiday options introduced since the outbreak of the Corona-virus in early spring of 2020. UK Finance has found that approximately 70% of people who took Payment Holidays did not need to for Financial reasons and had done so more as a preventative measure.…

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mortgage holiday complaints lending after covid-19

Lending After the Pandemic: The Long Road Ahead

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Late last month the Treasury announced a three-month extension to the mortgage payment holidays they had brought in to help homeowners through the pandemic. With so many people furloughed, made redundant or unable to work, the mortgage payment holiday scheme allowed them to defer mortgage payments from March for three months. As the end of…

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Motor Finance Regulation - Beyond Policies & Procedures

Motor Finance Regulations: Beyond Policies & Procedures

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Earlier this month I wrote about the current focus on Motor Finance Regulations, especially the growing controversy around PCPs and the associated commission models. Since then, the FCA has announced their intention to ban commission models in Motor Finance that are tied to the customer interest rates, estimating that this could save customers up to…

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Are personal contract plans going to cause a mis-selling scandal in motor finance?

Car Finance and Personal Contract Plans

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Speculation is mounting that the car finance industry could be heading for its own mis-selling scandal as fears grow around the way in which Personal Contract Plans have been sold. Recent reports show car dealer Lookers facing large scale mis-selling allegations as more details emerge about the FCA investigation announced in June. One of the…

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What can we learn from the FCA's final findings on motor finance?

Final FCA Findings on Motor Finance: Cause for concern?

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The publication of the FCA’s final findings on motor finance has raised alarm bells across the industry this week. Their research shows that some consumers have been overcharged by more than £1000 when taking out loans to buy cars. The FCA has suggested that a key problem is commission models which allow brokers to set…

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Governance, Risk & Compliance: This Year’s Big Topics?

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In the first few months of the year, there’s always a lot of prognostication in the Governance, Risk & Compliance world about what the year’s big Compliance issues will be. The biggest changes are always ones we don’t see coming and don’t already have a plan for, but here are a few of the trends…

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Kind Consultancy Announces Major International Project – Bringing Market-Leading Risk & Compliance Talent to Australia

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Kind Consultancy is very proud to announce the commencement of a major international project in partnership with a Big Four consultancy. We’re looking for Manager, Associate Director and Director-Level Consulting professionals in the UK with experience of Enterprise Risk Management and the design and implementation of risk frameworks, who are interested in relocating to Australia. We are also interested…

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Risk Management & Human Behaviour

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What decides whether an organisation operates within risk frameworks? Is it the policies in place, the business strategies that push up against those policies, what’s the deciding factor? In 2016 more and more people are accepting something which even though it’s very simple, has long been a difficult concept for many risk and compliance professionals…

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Conduct Risk: Who is Responsible?

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“Conduct risk” has been a top priority for the FCA ever since their formation in 2013, but to many it’s still a confusing and vague concept.  The FCA have defined it as “the risk that firm behaviours will result in poor outcomes for customers”, one suggested explanation from Thomson Reuters 13/14 Conduct Risk survey is…

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Preventing Financial Crime

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For their 2015/16 Business Plan, the FCA have added financial crime to their list of the top seven risks facing the finance industry, replacing house price growth. It’s not particularly surprising, 2014 was a bad year for high profile, high visibility financial crime cases and the industry is under public and media pressure to do…

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