Network to cut out dealer-to-dealer trading
18 November 2008
Fleet financing company Network will not support any broker that enters into third-party dealing from January 2009.
To ensure it doesn't deal with any companies involved in broker-to-broker dealing Network is putting a set of checks in place. Any company that continues with the practice will have its contract with Network terminated.
Jo Elms of Network said: "Many funders have come out in opposition to third-party dealing in the past, but it has not yet been backed up with any concrete stand against the practice.
"A strong section of the broker community is working towards the end of third-party dealing and we are looking to support those brokers however we can."