{"id":1064,"date":"2024-11-21T09:23:56","date_gmt":"2024-11-21T08:23:56","guid":{"rendered":"https:\/\/consumerfinancelaw.co.uk\/wp\/?p=1064"},"modified":"2024-11-21T09:23:56","modified_gmt":"2024-11-21T08:23:56","slug":"fca-proposes-to-extend-the-time-firms-have-to-handle-motor-finance-commission-complaints","status":"publish","type":"post","link":"https:\/\/consumerfinancelaw.co.uk\/wp\/2024\/11\/21\/fca-proposes-to-extend-the-time-firms-have-to-handle-motor-finance-commission-complaints\/","title":{"rendered":"FCA proposes to extend the time firms have to handle motor finance commission complaints"},"content":{"rendered":"\n<p>Earlier today. on 21 November 2024, the UK Financial Conduct Authority (the <strong>FCA<\/strong>) published a <a href=\"https:\/\/www.fca.org.uk\/news\/press-releases\/fca-proposes-extend-time-firms-handle-complaints-motor-finance-commission\">press release<\/a> and a <a href=\"https:\/\/www.fca.org.uk\/publication\/consultation\/cp24-22.pdf\">consultation paper<\/a> setting out its proposals for further changes to complaint handling rules for motor finance commission complaints.<\/p>\n\n\n\n<p> In broad terms:<\/p>\n\n\n\n<p>&#8211; the FCA proposes to extend its current rules in DISP Appendix 5 to motor finance non-discretionary commission arrangement (or a <strong>DCA<\/strong>) commission complaints;<\/p>\n\n\n\n<p>&#8211; the FCA is consulting on two proposals meaning there would be a pause for issuing a final response letter on a non-DCA motor commission complaints to either (a) 4 December 2025 (to align with DCA motor commission complaints) or (b) 31 May 2025;  <\/p>\n\n\n\n<p>&#8211; the FCA says it will set out its next steps on discretionary motor finance commission complaints in May 2025 and proposes to set out its position on non-discretionary motor finance commission complains at the same time (as it believes that the Supreme Court will have made a decision on whether to give permission to appeal in <em>Johnson v FirstRand Bank Limited (London Branch) t\/a MotoNovo Finance<\/em> [2024] EWCA Civ 1282 by then); and<\/p>\n\n\n\n<p>&#8211; the FCA proposes to extend the time to refer a complaint about a non-DCA motor commission complaint to the Ombudsman Service until the later of 15 months from a final response letter, or 29 July 2026.  <\/p>\n\n\n\n<p>The deadline for responding to the consultation is <strong>5 December 2024<\/strong>.  It is likely that new rules and guidance will be made shortly afterwards.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Earlier today. on 21 November 2024, the UK Financial Conduct Authority (the FCA) published a press release and a consultation paper setting out its proposals for further changes to complaint handling rules for motor finance commission complaints. In broad terms: &#8211; the FCA proposes to extend its current rules in DISP Appendix 5 to motor &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/consumerfinancelaw.co.uk\/wp\/2024\/11\/21\/fca-proposes-to-extend-the-time-firms-have-to-handle-motor-finance-commission-complaints\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;FCA proposes to extend the time firms have to handle motor finance commission complaints&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[157,27,158],"tags":[],"class_list":["post-1064","post","type-post","status-publish","format-standard","hentry","category-complaints","category-court-decision","category-motor-finance"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paQZb2-ha","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/posts\/1064","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/comments?post=1064"}],"version-history":[{"count":1,"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/posts\/1064\/revisions"}],"predecessor-version":[{"id":1065,"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/posts\/1064\/revisions\/1065"}],"wp:attachment":[{"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/media?parent=1064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/categories?post=1064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/tags?post=1064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}