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Discretionary Commission - BMW finance
Comments
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Let's see what that brings. lets hope I receive a reply before 25th September.You wont get a reply before 25th September. Its all been pushed back to late 2025 and could go further in 2026 or 2027.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Hi, I have heard back from BMW but am confused. What does this mean and why wait until after FCA deadline to provide more details?
'We confirm that a Fixed Commission was used in connection with your agreement.
Next Steps - We've logged this as a complaint for you. You'll receive a written acknowledgement letter soon.We'll provide you with our final response after 4 December 2025, which is the Financial Conduct Authority's (FCA) current deadline.
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Hi, I have heard back from BMW but am confused. What does this mean and why wait until after FCA deadline to provide more details?The FCA have not published their report as they are waiting on the court cases and their own interpretation of law and guidelines. So, the FCA has suspended the complaints process for any complaint regarding commission on motor finance. The exception being where commission was not paid in any way, where those complaints can be closed down.
So, BMW finance has to wait to see what the FCA instructs in all the different areas of commission.
Currently, that is later in 2025 as mentioned, but there is an expectation that this will be pushed back to 2026 or even 2027 depending on the court cases and appeals.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1 -
Does this mean i might be entitled to compensation? Thank you0
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The fact the agreement wasn't subject to DCA reduces the chances but until the court cases have played out anyone giving any kind of answer is just wet fingering itGreengrass09 said:Does this mean i might be entitled to compensation? Thank you1
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