The FCA Business Plan: what does it mean from a governance perspective?
One of the key reforms in 2022 will be the changes to the Appointed Representatives Regime (AR). The FCA has expressed a concern that principal firms are not adequately overseeing the activities of their ARs, leading to a risk that consumers are being mis-led and mis-sold.
Principal firms have been reminded that they must effectively oversee their ARs and ensure that they have appropriate governance arrangements, effective risk frameworks, internal controls and adequate resources.
At PPL, we can work alongside your firm to conduct a thorough inspection program of your AR network. We're proud to be the BVRLA's national inspector for over 1,000 motor finance companies and dealerships across the UK. We carry out the BVRLA's Leasing Broker, Principal & Appointed Representative inspection programs.
We can support you with the regulations and compliance oversight you require. Get in touch with a representative on 01274 921234 or visit www.productpartnerships.com