News Article

Legislation & Litigation

Credit Services Association welcomes details of the Financial Conduct Authority’s Thematic Review into Staff Remuneration and Incentives

By CreditMan Friday, August 14, 2015

Leigh Berkley, CSA President has welcomed the FCA’s publication of the detail of this key thematic review for the consumer credit industry: “CSA members are well placed to assist the FCA with this important research,” he said, adding: “Incentive schemes have changed massively over recent years, and now emphasise compliance and best practice rather than collections.

“I hope the way our members have tackled this will create a benchmark for other sectors, where possibly inappropriate, high-risk incentive schemes are still found.”

Leigh also said he knew several member firms had been approached and responded during the ‘stage one information request’ which ran in June and July this year. The CSA received a mandate to explore remuneration in the industry at its AGM in February this year.