Keep a lender document request tracker and a past-finance-deals records checklist, in your own labels (UK, FCA-authorised credit brokers)

The problem

If your dealership is an FCA-authorised credit broker, or an appointed representative of one, the FCA says that, while parts of the motor finance redress scheme are suspended, brokers must provide lenders with requested documents or information, or confirm they do not hold them, within 1 month of the request, and that firms must continue to gather the data needed to identify commission arrangements and disclosure practices. A tracker with a row for each request, who handled it and when it was sent keeps that month from slipping. AI can build the tracker and a records checklist from your own labels. It does not say what a lender is entitled to, whether you must send something, or anything about any customer’s compensation.

What AI does

For FCA-authorised credit brokers, AI builds a simple tracker for lender document requests and a records checklist, using your own labels and no customer details. It says nothing about what you must send or about any customer's compensation.

Time

The steps, in short

1. Confirm with your principal or compliance adviser that this applies to your firm.
2. Copy the relevant FCA wording into your notes.
3. Write a label for each type of record your firm keeps.
4. Have AI build the tracker, and have your adviser check anything you send.

A short sample prompt

Build a tracker table for document requests from lenders, using labels only, with these columns: [your column headings]. No customer details and no advice.