On Tuesday 27 March, the Financial Conduct Authority (FCA) published a Policy Statement on sales remuneration in consumer credit along with associated Final Guidance. The aim of these rules is to address the risks created by incentive frameworks of sales staff, with guidance provided to help firms review their current arrangements against identified good and poor practice. The rules come into effect on 1 October 2018 and the FCA will expect firms to have made the necessary amendments to policies and practices ahead of this date in order to ensure compliance.
