LEASING Broker Federation members who also belong to the BVRLA can download a new factsheet entitled ‘Incentives and managing conflicts of interest’.
The factsheet is aimed at those brokers that operate staff incentive schemes designed to drive up business performance.
It provides background guidance to the creation of incentive schemes and highlights those issues that might be considered high risk by the Financial Conduct Authority (FCA) along with what may be considered low risk.
The FCA wants to ensure such schemes are not detrimental to consumers because they may affect employee behaviour.
The BVRLA says the factsheet has been developed to support regulated members with FCA-compliance and can be accessed from the BVRLA website. There is also a 45-minute webinar on Conflicts of Interest and Incentives which members can log into.