Blog: Brokers needn't fear FCA commission reforms
If the Financial Conduct Authority restricted gross rate commissions on finance arrangements, brokers could feel a painful blow. However, they could claw back income elsewhere, argues Ravi Takhar, CEO of Bexhill UK, urging them to bring the premium finance function in-house.
The Financial Conduct Authority is taking a very dim view of car finance brokers adding a gross rate to a finance company’s net rate. This is because the borrower could be getting a different rate
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