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Consumer Credit Compliance Limited is a Principal firm which means if you are an AR of ours, we can fully manage your FCA requirements, meaning you don’t need to be directly authorised by the FCA.
If you meet our criteria and we choose to appoint you as one of our Appointed Representatives then we will ensure that you have all the necessary policies, processes and documents to help you remain FCA compliant.
Given that the AR is not directly authorised by the FCA means they do not have direct regulatory obligations placed upon them. Instead, the Principal is liable for the AR’s business practices including things considered ‘unregulated’ for example its culture or financial resources. The onboarding process of an AR is extensive and although not as demanding as that of an FCA application it is as in-depth. We act in the same way as the FCA this is of course to ensure that we as an FCA regulated firm are 100% happy to extend CCC’s permissions.
Consumer Credit Compliance became a Principal in 2017 when it upgraded from Limited to Full Permission Credit Broking. In 2018 we then acquired our Permissions for Debt Adjusting, Debt Counselling & Insurance mediation. This service is for firms that do not want to be directly authorised by the FCA and would prefer a Principal to look after their Broking and Insurance activities.
In practice a good relationship between a Principal and an AR should be based on the following points:
To rule with fear or restriction creates an unfair imbalance of power between two firms that is neither conducive nor commercially beneficial to either party and so, in order to cultivate a successful partnership a mutual respect for each party and their own responsibilities as well as business activities is to be considered.
Our e-Learning is ideal for firms that find it a challenge to deliver real time training, or where a self-paced learning programme would benefit more staff.
