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BVRLA launches Compliance Forum to navigate the Consumer Duty Age 

The BVRLA is launching a new forum to help its members take a more proactive approach to the industry’s fast moving regulatory environment. Centred around three half-day events, each forum programme will present the opportunity to discuss compliance best practice and explore issues directly with regulators, lawyers, compliance experts and their peers.

Shashi Maharaj, BVRLA’s Director of Legal and Membership, said: “The vehicle leasing and mobility services sector is experiencing a period of remarkable regulatory realignment. Compliance has dominated the agenda over the past twelve months and shows no sign of abating.

“Our members have a duty to their customers to be in step with any regulatory changes. We have a duty to equip them with the knowledge to do that effectively and this new Compliance Forum offers exactly that. We have a stellar cast of expert contributors lined up. They will explore the topics that compliance professionals simply cannot afford to ignore.”

Kicking off on Thursday 20 April in London at law firm Shoosmiths, the first Compliance Forum will focus on “Compliance in the Age of Consumer Duty”. The half-day event will include keynote speeches on commissions and the Consumer Credit Act (CCA). The keynotes will be punctuated by panels exploring Consumer Duty and what motor finance will look like in 2030.

Speakers for the inaugural event include senior representatives from regulators, industry bodies, analysts and the BVRLA membership. Confirmed panellists include the Financial Conduct Authority (FCA), Fleet Alliance, Green Finance Institute (GFI), and the Finance & Leasing Association (FLA).

The 2023 programme is being supported by specialist legal firms, Shoosmiths LLP and DWF Law LLP, who will host the forums and provide access to sector experts.

Wayne Gibbard, Commercial Clients and Strategy, Shoosmiths LLP, said: “Against a backdrop of economic and political upheaval, the industry also faces an unprecedented amount of regulatory change, which demands clear focus and guidance. The establishment of the Compliance Forum by the BVRLA is a great way to support members and spotlight key issues.

“We are delighted to support the BVRLA in establishing the Compliance Forum and are privileged to be able to host members at our London office for the inaugural meeting on 20th April. We are looking forward to welcoming members of the BVRLA and continuing to support the industry through the current regulatory changes and challenges.”

Richard Humphreys, Head of Consumer Credit Regulatory at DWF Law LLP, added: “Compliance cannot be viewed as just a pre-packaged tick box exercise. All the relevant regulators are pushing for an informed and tailored approach, based on both principles and outcomes. In that environment, keeping firms and management safe requires members to really understand what the regulators are after, to then demonstrate that they deliver on both the letter and the spirit.”

BVRLA members can subscribe to the full Compliance Forum programme via the BVRLA website now. Each subscription costs £500 + VAT (£300 + VAT for SMEs) and includes two tickets for each of the three events in 2023. Subscribers will also have access to exclusive content and a digital networking platform.

BVRLA Compliance Forum: 2023 Schedule

Thursday 20 April, 14:00 – 17:30. Shoosmiths LLP, London

Thursday 13 July, timings tbc. DWF Law LLP, Birmingham

Wednesday 4 October, timings and location TBC

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Automotive Industry Digest

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