Call for European Commission to act on vehicle data access legislation

The European Commission is coming under pressure to introduce ‘ambitious’ legislative proposals on vehicle data access, with a broad grouping of organisations including Leaseurope calling for action by Q1 2022. The current failure to agree common standards is holding back digital developments according to the coalition, which includes publishers of technical information, body repairers, dealers and workshops, garage equipment suppliers, tyre manufacturers, road patrols, parts distributors, leasing and rental companies, as well as consumers.

Call for European Commission to act on vehicle data access legislation

Oct 08, 2021

The European Commission is coming under pressure to introduce ‘ambitious’ legislative proposals on vehicle data access, with a broad grouping of organisations including Leaseurope calling for action by Q1 2022. The current failure to agree common standards is holding back digital developments according to the coalition, which includes publishers of technical information, body repairers, dealers and workshops, garage equipment suppliers, tyre manufacturers, road patrols, parts distributors, leasing and rental companies, as well as consumers.

Implications of Wood v Commercial First Business on brokers and lenders

Specialist law firm Auxillias has published a detailed report for brokers and lenders to provide some support to assess the ramifications of a key Court of Appeal ruling on undisclosed commissions. The report, produced in association with the International Asset Finance Network, aims to provide some clarity for the industry following the recent Wood v Commercial First Business decision.

Implications of Wood v Commercial First Business on brokers and lenders

Aug 13, 2021

Specialist law firm Auxillias has published a detailed report for brokers and lenders to provide some support to assess the ramifications of a key Court of Appeal ruling on undisclosed commissions. The report, produced in association with the International Asset Finance Network, aims to provide some clarity for the industry following the recent Wood v Commercial First Business decision.

FCA promises “assertive” approach and stronger consumer focus

The Financial Conduct Authority (FCA) has published its business plan for the coming year, which includes a renewed focus on consumer outcomes and a commitment from the regulator to become more innovative, adaptive and assertive. Nikhil Rathi, who joined as chief executive in October 2020, said: “The FCA must continue to become a forward-looking, proactive regulator. One that is tough, assertive, confident, decisive, agile. One that acts, acts fast—and where we can’t act, engages enthusiastically with those who can.”

FCA promises “assertive” approach and stronger consumer focus

Jul 23, 2021

The Financial Conduct Authority (FCA) has published its business plan for the coming year, which includes a renewed focus on consumer outcomes and a commitment from the regulator to become more innovative, adaptive and assertive. Nikhil Rathi, who joined as chief executive in October 2020, said: “The FCA must continue to become a forward-looking, proactive regulator. One that is tough, assertive, confident, decisive, agile. One that acts, acts fast—and where we can’t act, engages enthusiastically with those who can.”

Lease accounting

LeaseAccelerator study identifies disclosure challenges of ASC 842

Jan 24, 2020

Lease accounting software provider LeaseAccelerator has published a new report looking at the key challenge faced by US companies as they implement ASC 842. It has analysed comment letters received by the Securities and Exchange Commission in 2019 to identify common issues as the new standard was adopted. Many companies had to organise and migrate hundreds or even thousands of leases onto new accounting software with new controls, processes and procedures. Many of the SEC comments were requests for additional details on a company’s analysis, assumptions, judgments and supporting documentation.

BREXIT

Personal Data post-Brexit: Kate Brimsted explains how the UK is allowed “third country” status for up to six months

Jan 06, 2021

The UK and the EU concluded the Trade and Cooperation Agreement on 24 December 2020. The Agreement provides a framework under which trade will take place following expiry of the transition period on 31 December 2020. “Personal data” is mentioned a mere 158 times in the 1265 pages of the document but there are some significant impacts in this area, as in so many others.