Context
Following the Supreme Court decision in the Hopcraft, Wrench and Johnson motor finance cases, and the publication of the FCA’s premium finance market study final report, CBPF has decided to remove the need for explicit customer consent for commission. CBPF has, therefore, posted an update in the Broker Help and Support section of its website to confirm that it is changing its commission disclosure and consent (CDC) requirements, and that from 10 March 2026 it will be removing the need to obtain explicit consent from customers for the broker to receive commission from CBPF.
Key points to note and next actions
- From 10 March, explicit commission consent will be removed from the customer journey, and a new and ‘improved’ single Verbal Sales Script will need to be implemented (suitable for both Telesign and Non-Telesign business).
- As it has in the past, the new script encompasses all of CBPF’s commission disclosure requirements, so there is no further action for brokers to take at new business stage.
- CBPF will be including a new section on commission in all welcome packs issued to customers.
- The CDC Renewal Guide, shared with broker firms in 2025, has been decommissioned. It has been replaced with a condensed summary of CBPF’s commission disclosure requirements for renewals, MTAs and additional lending.
This decision does not change CBPF’s other commission disclosure requirements for customers, which are that they must be made aware of the following:
- The relationship between CBPF and the broker.
- The existence of commission.
- The nature of the commission.
- The amount of commission the broker will receive.
- The method CBPF uses to calculate the commission amount.