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3 Jan 2023

Millions are being encouraged to walk and cycle more this year to get fit and save money, with an additional £32.9 million of government funding to accelerate walking and cycling schemes...

3 Jan 2023

Almost 50 shops in the UK closed for good every day in 2022 - more than at any other time in the last five years – according to a new report from the Centre for Retail Research.

15 Dec 2022

Cytech training provider Activate Cycle Academy made it onto BBC television and radio this week as part of The One Show’s launch of a ‘Gift A Bike For Christmas’ campaign.

14 Dec 2022

Leicester has become the latest city to offer a free e-bikes scheme to encourage people to leave their cars at home and pedal around the city. The scheme, which is funded by the Department for...

13 Dec 2022

ACT’s Cytech delivery partner Activate Learning, of which Activate Cycle Academy is a part, is offering FREE online Microsoft accredited online courses for employers to enable their staff...

13 Dec 2022

We are starting a series of Retailer Profiles, shining a light on some of our best and most interesting independent retailers. If you would like us to consider your shop for inclusion, please...

12 Dec 2022

New research published by Cycling Scotland has shown that saving money is a key motivator for people taking up cycling. The study, which tracks changes in attitudes towards cycling in Scotland...

8 Dec 2022

Four in ten Britons dream of starting their own small business, with bookshops the most popular choice, according to new research by American Express Shop Small.

7 Dec 2022

During a tough economic climate with significant challenges for retailers, the Daily Telegraph has named 15 high streets around the country that it says, “retain a healthy selection of...

6 Dec 2022

The BBC has published comprehensive analysis of Ordnance Survey data that reveals the full extent of changes to Britain's High Streets after two years of Covid lockdowns and trading...

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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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