The briefing is aimed at finance providers who use intermediaries such as motor dealers, high street retailers and credit brokers, and is also designed to be useful to the intermediaries themselves.
The guidance explained in the briefing is on issues such as transparency in credit advertising and disclosing the presence of commission.
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The briefing comes after Martin Wheately, chief executive of regulator the Financial Services Authority (FSA) soon to become the Financial Conduct Authority (FCA) told the BBCs Today programme of his determination to end the incentivisation of bad performancehe saw in commission-based selling.
The FCA is set to not only replace the FSA but expected to subsume some parts of credit regulation currently held by the OFT.
The briefing comes at a time of increased business for asset finance brokers in the UK, with the National Association of Commercial Finance Brokers reporting a doubling of volume in the past 12 months for its members.
richard.brown@vrlfinancialnews.com
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