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UK and EU regulatory updates: FCA motor finance SMF oversight, BoE transfer and bail-in guidance, and EMIR 3 AAR reporting templates (13 April 2026)

Published on: 13 April 2026

Published by a LexisNexis Financial Services expert
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Financial services developments

Motor finance complaints: FCA provides information for firms with one or more SMF

The FCA has refreshed its webpage giving guidance to firms on motor finance complaints, adding details for organisations with one or more senior management function (SMF). Each firm must appoint an SMF (or an equivalent where no SMF exists) with end-to-end responsibility for overseeing the delivery forecast and ensuring the scheme is complied with. In some cases, a firm may need to appoint more than one SMF, for example where separate divisions operate different systems and teams.

Where firms plan to have more than one SMF supervising the scheme, they must:

  • submit the most senior SMF’s details into RegData as required under CONRED 5.9.3R (2) & 6.9.3R (2)
  • email the name and contact details of the additional senior manager responsible for oversight and overall delivery of the scheme, including your reasoning for an additional SMF, to MotorFinanceSupervision@fca.org.uk

Source: Information for firms on motor finance complaints [Update]

BoE publishes guidance on transfer and bail-in resolution...

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