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30 Oct 2023

A few years ago Charlotte Florence’s dream trip to Costa Rica quickly turned into a nightmare after a quad bike crash, leaving her paralysed face down in the jungle.

18 Oct 2023

Hubtiger, a leading cloud-based repair and rental management software, announces an expansion of its services with the release of a new feature: Long-Term Rentals.

17 Oct 2023

A survey of 1,038 work commuters (363 urban bike commuters and 675 non-biking commuters) in the US conducted by ebike.org  has explored if there’s a difference in the mindsets and...

16 Oct 2023

Thousands more people will start cycling, or be given support to cycle more, thanks to a new £4 million funding boost for Cycling UK’s Big Bike Revival programme.

16 Oct 2023

Cytech accredited ACT member MTB Monster, a mountain bike specialist near Blackburn, which has seen rapid growth of its team and expansion of its physical space, is working with Lancashire...

16 Oct 2023

Consumer safety charity Electrical Safety First has called again for e-bikes, e-scooters and their batteries to be better regulated in the UK after New York City recently introduced rules that...

10 Oct 2023

Flexi Voucher lets customers spread tax-free shopping over the year

6 Oct 2023

gogeta, the new tax-free cycling platform that offers a much fairer deal for independent bike retailers, has had more than 150 retailers sign up since its launch. gogeta, which is the only cycle...

4 Oct 2023

Shop owners have called on the Home Secretary to specifically outlaw attacks on retail workers.

4 Oct 2023

From the start of October, bans and restrictions on single-use plastic cutlery, polystyrene cups and food containers, single-use balloon sticks and certain types of polystyrene cups and...

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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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