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PCP: the new PPI?

Both the FCA and the Bank of England have recently expressed concerns about PCP. Elsewhere, some elements of the press have painted the product as …

Strict compliance and on-demand guarantees

The High Court recently held that the doctrine of strict compliance does not automatically apply to on-demand guarantees. Greg Standing, partner and head of the retail and finance automotive sector gr…

Taking stock of stocking

Wholesale stocking facilities play a key role in ensuring that motor dealers can keep their showrooms and forecourts full of new (and used) models looking for happy new owners. Philip Alton, credit, f…

No advisory relationship between lender and customer

A recent High Court case has reaffirmed that a lender is not under a general tortious duty to provide advice to borrowers where they have not specifically agreed to do so, writes Greg Standing, partne…

Brexit: courting chaos?

Harriet Campbell, senior associate in the Dispute Resolution and Compliance Team at Shoosmiths, reviews how parties should review jurisdiction clauses in contracts to ensure they continue to fulfil th…

The law of unintended consequences

Parties to a potential transaction often record the understanding of the principal commercial terms in a letter of intent, but pre-deal documents can give rise – in some cases, perhaps inadvertently –…

Regulated finance: complaints reporting

Where firms provide finance under regulated hire or hire purchase agreements, as opposed to loans, many have been in the habit of passing complaints about the underlying asset back to the dealer. Nikk…

The end is nigh – for bills of sale

Until recently, bills of sale seemed to be a dying species. This changed dramatically with the growth of the logbook loan industry, and has clearly created the impetus for new legislation. Philip Alto…

Do you know what your broker is doing?

If a broker or dealer charges a fee directly to the customer, they must comply with section 4.4 of the Consumer Credit sourcebook (referred to as CONC.) contained within the FCA Handbook. Jonathan Hal…

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