Consumer Credit Broker Support
UKGI has been supporting consumer credit brokers with their regulatory compliance since 2014, when the responsibility for this regulation moved away from the Office of Fair Trading to the Financial Conduct Authority.
Latest News…
EU minimum PII limits for insurance intermediaries to be increased in October 2024April 23, 2024
Which? urges FCA action on insurance instalment facilities interest rates in the home and motor insurance marketApril 23, 2024- FCA publishes findings from its latest Financial Lives cost of living re-contact surveyApril 12, 2024
FCA publishes its fees and levies rates proposals for 2024/25April 12, 2024- FCA publishes its latest update to its Perimeter ReportApril 12, 2024
Helping consumer credit brokers with regulatory compliance
Our main area of focus in this sector historically has been on helping consumer credit brokers with their regulatory application and approval, although this has increasingly broadened out to a wider range of ongoing compliance support. Our team understands in detail how the regulations impact consumer credit brokers. This means we can help them build compliance into their business from day one, and then manage the evolution of their regulatory framework as the rules change over time.
The scope of our support for both start-ups and established consumer credit brokers, regardless of size and location, includes:
- Extensive experience in helping brokers apply for regulatory authorisation of their firm or key individuals within it.
- Practical support and guidance on developing a robust compliance culture and infrastructure across sales, administration, debt solutions and arrears management.
- Expertise across a wide range of regulated activities, including credit broking, credit lending, consumer hire, debt adjusting, debt administration and debt collection.
- Specialist advice on facilities such as insurance premium finance, purchase finance for products like motor vehicles and white goods, leasing, hire, personal and business contracts, as well as financial management and credit scoring tools.