With the movement of regulatory responsibilities from the Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA) on 1st April 2014, existing consumer credit licence holders were invited to apply for full authorisation, becoming subject to a new regulatory regime.
The FCA’s compliance requirements are without doubt considerably more onerous than those of the OFT’s, and in support of firms wishing to continue with this nature of business, the SimplyBiz Group created the Consumer Credit Centre.
The Centre is home to extensive information of vital importance to companies holding these licences and also provides access for Centre Members to two services. The first is a stress-free authorisation process which is managed on your behalf and the second is a comprehensive, ready-to-use compliance solution which provides access to online and helpdesk support, advice and guidance, that will help firms re-engineer their businesses, ensuring that they are able to operate fully compliant processes across the range of regulated areas.
For further details please visit www.consumercreditcentre.co.uk