Expert Advice & Interim Resources

The Regulator recommends that consumer credit firms have appropriate compliance expertise. Not only does this help firms to put the right regulatory safeguards in place but also supports them through periods of regulatory intensity. The FCA will take a dim view of breaches that have resulted from a failure to employ the right skills.

To ensure compliance, firms need to ensure that they have the capability and the capacity to manage regulation; and keep up with change. A firm’s compliance resource will depend on the nature, scale and complexity of its business. For smaller firms it may be more practical to outsource through a specialist provider as required. Larger and more complex firms will have greater demands and are likely to need a full-time compliance function. Firms who rely on a low level of non-specialist knowledge, or who fail to dedicate sufficient resources to managing regulation, are unlikely to achieve satisfactory standards.

Whatever your business looks like, CCAS has the capability and experience to fulfil your needs for compliance expertise and resources. We can act as your retained expert, calling on us when you need to for advice, training or to support you with FCA reporting and liaison. We can also offer a recruitment service for appointing permanent compliance managers and for resourcing larger interim teams should you need to carry one-off projects.

To find out how we can help you with compliance expertise and resources, get in touch with us today by clicking the button below.


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Articles

Why firms need to stay in shape for SM&CR

The end of 2019 was marked for many consumer credit firms by a sprint to the line on 9th Dec. This was when the first stage of the SM&CR implementation was required. With only a short period of recovery firms are starting to think about getting in shape for the second stage at the end …

February 24, 2020 at 3:39 pm

Ready, Set … Go

The consumer credit sector is now under starters orders for SM&CR. In less than one month the first stage of the new Senior Managers & Certification Regime will start. Firms should now be set and ready to go. Here is just a brief reminder of what happens and how firms need to be ready on …

November 12, 2019 at 11:37 am

Motor Finance: changes to rules on commission

We have now reviewed FCA Consultation Paper CP19/28 “Motor finance discretionary commission models and consumer credit commission disclosure”. This proposes a number of changes to CONC rules, some of which apply just to the motor finance sector and others of which apply to all sectors. Equally some of the rules changes only apply to regulated …

October 16, 2019 at 8:51 am

FCA Guidance on Vulnerable Customers

FCA has now issued GC19/03; draft guidance consultation on vulnerable customers. GC19/03 will be subject to a two-stage consultation process the first of which finishes on 4th October. The draft guidance is relevant to all regulated firms dealing with retail customers. Retail customers are those who are acting outside of their trade, business or profession. …

August 2, 2019 at 10:38 am