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7 Feb 2025

ACT parent company Bira has warned that retailers across Britain face troubled times ahead despite today's Bank of England interest rate cut to 4.5%, as the Bank halves its growth forecast for...

4 Feb 2025

The ACT and legal partner WorkNest are hosting an exclusive webinar on how to remain compliant with employment law while making necessary business changes.

31 Jan 2025

New independent research has confirmed OEM e-bikes are effectively exempt from risk of battery fires, with unsafe post-purchase replacement batteries, conversion kits, and other equipment that...

31 Jan 2025

The UK Government has decided not to go ahead with proposals to increase the maximum power output of e-Bikes to 500W and to permit throttle assistance following a lengthy consultation process.

23 Jan 2025

ACT parent company Bira is calling for urgent government intervention following disappointing December retail figures, which show sales volumes fell by 0.3% following a modest 0.1% rise in...

22 Jan 2025

Cytech's Australian training provider The Bicycle Academy,  which delivers their courses in Brisbane, Sydney, Melbourne, Adelaide and Perth, paid visits to UK Cytech centres late last year...

21 Jan 2025

The ACT is set to deliver a seminar at both the North and South iceBike* events discussing the current challenges and opportunities facing the UK cycle industry.

17 Jan 2025

The ACT has teamed up with employment law, HR, and health and safety experts WorkNest as the association's new legal partner.

10 Jan 2025

The ACT have presented a formal complaint to the BBC, with Director Jonathan Harrison claiming the program was misrepresentative and made "incorrect claims about regulations".

9 Jan 2025

ACT parent company Bira has warned that disappointing footfall figures for December show mounting pressures on independent retailers, with concerning implications for 2025 as business costs...

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Businesses on deadline to adhere to FCA Consumer Duty

Posted on in Cycles News

FCA Together with our partners at V12 Retail Finance, we are highlighting the FCA Consumer Duty and the four key outcomes that the FCA will be looking for authorised businesses to adhere to.

While the FCA has given authorised businesses one year to implement these new changes, it is important to begin reviewing your business and implementing the principle sooner rather than later. This way you have adequate time to educate staff, review policies and inner workings and really embed the principle in how your business treats customers and conducts its operations.

V12 have put together a Consumer Duty Guide which recaps on all this important information and has quick links to useful resources. You may find it useful to download this guide and share among your colleagues. To get your copy, click here.

The first deadline to be aware of is 31 October 2022. The FCA has said that authorised businesses’ Boards (or equivalent management body) should have agreed their implementation plans by the end of October 2022 and be able to show they have scrutinised and challenged these plans to ensure they are deliverable and robust to meet the new standards. We also said that authorised businesses should expect to be asked to share implementation plans, Board papers and minutes with supervisors and be challenged on their contents.

Read more about the retail finance here.

Retail Finance Training

One of the most effective ways to ensure that you and your staff are fully trained and compliant is by taking our Retail Finance Training course. Developed by ACT, it is the first online learning course for retailers which aims to build the skills and knowledge required to maximise sales using Retail finance.

You can find more information about Retail Finance Training on the service page and you can try the demo for free here.

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