Trevor Johnson

Head of Compliance @Compliancetrak

AUTOMOTIVE FCA COMPLIANCE SOFTWARE & CONSULTANCY SERVICE SPECIALISTS. WE ALSO HAVE AN APPOINTED REPRESENTATIVE NETWORK FACILITY FOR CONSUMER CREDIT & OR GENERAL INSURANCE.The British motor industry is under heightened scrutiny from the Financial Conduct Authority (FCA), which presents significant challenges and responsibilities for motor dealers. Many dealers face substantial financial risks due to potential FCA sanctions, fines, and mis-spelling claim lawsuits. These risks stem from weak, inconsistent, and non-demonstrable FCA compliance processes. When these shortcomings are identified, it is often too late, resulting in potential financial penalties, severe sanctions, and significant damage to the business\'s reputation. It is of critical importance that dealerships and dealer groups conduct business in full compliance with FCA regulations. The FCA\'s introduction of the Consumer Duty has further expanded dealers\' responsibilities, underscoring the need to deliver positive customer outcomes. Dealers must now ensure that products and services meet consumers\' needs, that communications are clear and not misleading, and that vulnerable customers are identified and treated fairly.