Motor Finance: Are Personal Contract Plans the New PPI?

By The Enforcd TeamThe Enforcd Team
Motor Finance

The Financial Conduct Authority’s 2017/18 business plan said this about motor finance:

“We are concerned that there may be a lack of transparency, potential conflicts of interest and irresponsible lending in the motor finance industry. We will conduct an exploratory piece of work to identify who uses these products and assess the sales processes, whether the products cause harm and the due diligence that firms undertake before providing motor finance.” Continue reading “Motor Finance: Are Personal Contract Plans the New PPI?”


FCA Business Plan 2017: Reviews, Thematic Reviews and All The Rest of It

By The Enforcd TeamThe Enforcd Team
FCA Business Plan 2017

It’s not an original observation, but the FCA is at heart a publishing house.

Work on annual set-pieces like the FCA business plan (currently in its 2017/2018 run) begins months before publication, with Associates across all parts of the FCA writing summaries of their work, and sending it up the line for review. The strategists and macro-economists submit big chunks. The whole thing is then proofed for plain English, and typeset in-house. Continue reading “FCA Business Plan 2017: Reviews, Thematic Reviews and All The Rest of It”


Libor: Was the Bank of England involved?

By The Enforcd TeamThe Enforcd Team
Libor

The BBC’s Panorama has a recording of a conversation between two Barclays employees, one a LIBOR submitter. We don’t know in which manner the recording was time stamped, but it is reported to have taken place on 29 October 2008, the same day as a high profile telephone conversation between Bob Diamond, (then running Barclays Capital), and Paul Tucker (most recently a deputy governor of the Bank of England). Bob Diamond wrote a note following the unrecorded conversation, (the Tucker note), which was the subject of persistent questioning when Diamond appeared before the Treasury Select Committee (TSC) in 2012. Continue reading “Libor: Was the Bank of England involved?”