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As you will be aware, GAP has been in the news this week with the FOS announcing that GAP complaints had fallen recently ahead of the FCA’s proposed changes to the market. We recently responded to the FCA’s consultation on remedies for the GAP market and have also met with them to discuss our concerns. We believe the FCA are acting hastily and have not considered the implications of their remedies fully, in particular around vehicles sold on finance. We will continue to lobby and keep members informed of our progress.
Next week I have a number of meetings with key officials at the European Commission and MEP’s to further our lobbying efforts for an industry Code of Practice. I will of course keep you informed of our progress and the outcome of these important meetings.
Finally, a reminder that the NFDA is your trade body and here to help and advise you on regulatory and operational issues that affect your business. Please do contact us on the NFDA helpline 01788 538303 if you need any assistance.
Sue Robinson, Director