Editor's letter

Welcome to this edition, exploring various facets of the asset finance landscape.

The FCA's probe into Discretionary Commission (DiC) practices in the motor finance sector, coupled with the drastic decline in Close Brothers' shares, signals a pivotal moment. As Close Brothers grapples with potential compensation costs, estimated between £150-230 million, the industry braces for a significant impact, ranging from £6-16 billion.

The scrutiny mirrors the PPI scandal's echoes, demanding a reassessment of lending practices. The aftermath, still uncertain, necessitates vigilance in adhering to regulatory reforms, emphasising the crucial need for industry players to align with evolving FCA directives to ensure a fair and transparent future in the motor finance sector.

Join us as we navigate through this cover story and more.
Best regards,

Alejandro Gonzalez, editor