Compliance
To ensure that high standards are
embedded across the business and
form part of our culture, we have
compliance frameworks in place,
consisting of policies, processes,
guidance and training focused on
a number of core compliance topics.
Our approach
We are committed to operating in a responsible,
compliant and ethical manner with honesty and
integrity. We have a zero tolerance approach to bribery, corruption and other financial crime within our business and/or in any dealings with our customers, suppliers and other third parties who we deal with.
We do not conduct business with any service provider, customer or supplier which does not align to our values in these areas.
We have various levels of governance that give us comprehensive
oversight of our primary areas of focus and compliance and regulatory
obligations. In addition to Board, Executive and Operational Leadership
responsibility, we operate second line forums and committees (including
risk forum, FCA governance, Cyber Security, GDPR). We also operate
an internal audit programme which provides independent assurance
activities relating to the Group’s governance, risk management and
internal control processes.
As an online marketplace, cyber security and protecting customer and
consumer data are primary areas of focus. They are fundamental to our
future success and to build trust with our customers and consumers.
As we shift to an accelerated adoption of digital retailing it is paramount
that our cyber and data security and infrastructure evolve with our
business priorities.
Training
To ensure all employees uphold our ethical standards
in their day-today decision making and actions, we
have a well-established series of online training and
awareness programmes that cover a broad range of
compliance modules.
Each year, our employees complete mandatory compliance training
covering the following areas:
This training requirement applies to all Auto Trader employees.
Board members and contractors must also complete a suite of
compliance courses. This ensures everybody across across all
areas of our business is up to date with policies and procedures
and have all the information they need to uphold our ethical
standards in their day-today decision making — as well as remain
up to date and are alert to unethical practices and potential risks
to our consumers or customers.
FCA compliance
Auto Trader Limited, the main trading subsidiary of the Group,
is authorised by the FCA for consumer credit and insurance intermediary activities. Our activities primarily relate to providing finance and insurance introductions to consumers for third parties (retailers or commercial partners). We have introduced consumer journeys for some of our regulated activities as part of our digital retailing proposition using the technology of Blue Owl Limited (trading as ‘AutoConvert’), a wholly owned subsidiary which is an Appointed Representative of Auto Trader Limited in respect of consumer credit activities.
The Group’s activities primarily relate to providing finance and insurance introductions to consumers for third parties, be it dealers or commercial partners. Via Vanarama, the Group acts as a broker for vehicle leasing and also arranges General Insurance Services under the trading name ‘Vanarama Insurance Services’. We have introduced, and are developing, consumer journeys where consumers start their journey on Auto Trader and complete an onward journey with Vanarama.
We have specialist internal resource within our Governance, Risk and Compliance team across Auto Trader Limited and Autorama UK Limited with significant experience of working in FCA regulated businesses, and we have developed a detailed governance framework to ensure that we comply with the principles, rules and guidance applicable to our activities. During the year, we established and implemented new guidance, policies and frameworks to ensure we meet the requirements of Consumer Duty,
All employees are subject to the Conduct Rules and have received appropriate training and guidance. We have a comprehensive suite of policies, training and monitoring procedures to ensure awareness of and compliance with the requirements, including financial promotions, product change management, complaint handling, vulnerable customers and transparency. Our Customer Charter outlines our commitment to delivering good outcomes for consumers.
Cyber security
We are committed to the security of our services and protecting our customers from cybercrime and fraud. Attempts to breach our systems to access our data and the threat of an unauthorised malicious attack on our systems pose a significant and perpetual threat.
Read MoreData protection
Data is at the heart of everything we do and data compliance and protection is of critical importance to Auto Trader.
Read MoreA trusted platform
As a leading online platform, we strive to provide a platform that is relevant, reliable and fair.
Read More
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