..and we will give you the know-how and the procedures to enable you to have an easily managed compliant business
Product Partnerships' compliance services support you to remain compliant when offering customers credit facilities. We make sure you’re correctly authorised and have the required procedures and processes in place.
A non-compliant business runs the risk of being fined, censured or even having to stop regulated activities. Fines and censures can be brought against individuals as well as the business.
Product Partnerships is a Principal firm so if you don't want to become directly authorised, Product Partnerships, subject to certain criteria, can appoint you as their representative instead. Even if you're currently directly authorised, you can switch to Appointed Representative status if the burden and risk of direct authorisation is not right for your business.
We have put together an FCA Healthcheck so you can see if you meet the new regulatory requirements together with an 'Options Table' to help you choose the best option for your business which you can view and print here.
The cornerstone of the FCA's regulatory approach is their Principles for Businesses and notably their principle regarding Treating Customers Fairly. All regulated businesses must adhere to these principles and be able to demonstrate and evidence they have complied with them. Click here to see the FCA’s Principles for Businesses and Treating Customers Fairly outcomes.
Being compliant will need systems and controls to be in place, staff to be trained, a robust compliance monitoring programme and the fair treatment of customers to be at the heart of what you do.
With our ongoing support, we will enable you to have processes in place that makes your business compliant and delivers a first class customer service through a highly trained and knowledgeable team. To review the FCA’s Guide for Consumer Credit Firms click here.