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

FCA Delays the Second Stage of the Implementation of parts of the Senior Managers Regime

On 30th June FCA announced a consultation on proposals to defer the deadline for implementing certain aspects of the second stage of the Senior Managers and Certification regime for solo regulated firms including consumer credit firms. FCA proposes to defer the deadline from 9th December 2020 to 31st March 2021 for: The extension of the …

October 5, 2020 at 11:40 am

FCA Issues draft new guidance regarding the fair treatment of vulnerable customers.

FCA has issued draft guidance on the fair treatment of vulnerable customers for consultation. The consultation period ends on 30th September. This guidance applies to all retail sectors and will be of particular relevance to consumer credit lenders. FCA expects firms to ensure that their employees have the relevant knowledge and skills to treat vulnerable …

October 5, 2020 at 8:26 am

New FCA Guidance on Forbearance during COVID-19

FCA has issued new guidance for lenders on how to treat customers adversely affected by coronavirus. Existing guidance is due to come to an end on 31st October so this new guidance will apply after that date. The guidance relates to customers who: have been granted 2 payment deferrals under the July guidance and remain …

October 5, 2020 at 8:14 am

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