CONSUMER CREDIT

At Richdale, we’ve helped all kinds of consumer credit firms to achieve authorisation from the Financial Conduct Authority (FCA) or to become Appointed Representatives of the Richdale Network.

The consumer credit landscape is exceptionally diverse. That’s why our highly experienced Compliance Associates are utilised to assist lenders with becoming authorised and maintaining their ongoing compliance and regulatory obligations.

Whether you’re seeking Limited or Full permission for undertaking consumer credit activities, we can help you prepare your FCA application – along with all necessary compliance policies and procedures – and consult on your firm’s ongoing compliance, governance and risk frameworks.

The Richdale Philosophy is that no compliance job is too big or too small to “get our hands dirty”. Our personable Compliance Associates and Auditors understand that every lender and their circumstances, are different. That’s why we offer a bespoke compliance service to all types of consumer credit firms, including:

• Secured and Unsecured Lenders;
• Firms providing credit as an ancillary service;
• Credit Brokerages;
• Debt Counsellors and Debt Administrators;
• Debt Collectors;
• Interest-free lenders.

TYPICAL COMPLIANCE TASKS FOR OUR CONSUMER CREDIT CLIENTS;

FCA applications

Our dedicated and experienced Compliance Associates have an excellent success rate when it comes to completing applications and securing authorisation with the FCA. We consult with our consumer credit clients to create Regulatory Business Plans for the FCA, outlining your business and the way it will operate post-authorisation, and prepare all requisite compliance policies and procedures for the FCA.

Ongoing compliance

Supporting authorised consumer credit firms to maintain their compliance and regulatory obligations with the FCA is of vital importance to us. Whether you’re operating with Limited or Full permissions to conduct consumer credit activities, our ongoing FCA Compliance Support Package will give you the peace of mind with a minimum of hassle. Let us do the legwork so that you can focus firmly on giving the best levels of service to your customers.

Review of performance against FCA expectations

Your dedicated Compliance Associate will assess your company’s recent performance and compliance against the benchmark expectations outlined by the FCA.

Review of policies and procedures

We will conduct a comprehensive review of your existing policies and procedures to ensure that they are compliant, up-to-date and reflect industry best practice. Our ongoing support package ensures that these are constantly appropriate and up to date.

Bespoke compliance monitoring

As part of our Compliance Support Package, we will design and implement bespoke programmes for monitoring the FCA compliance of your business; pinpointing areas for urgent action and long-term improvement.

Submission of regulatory returns

Can’t keep up with regulatory submissions? Let your dedicated Richdale Compliance Associate handle all of the “paperwork” and prudential compliance matters on your behalf.

Compliance training

Whether your business has just achieved FCA authorisation or is struggling to maintain its compliance and regulatory obligations, Richdale offer dedicated compliance training sessions. We train business owners and employees to better understand their responsibilities post-authorisation, consulting on risk management and compliance monitoring to maintain FCA compliance.

Guidance on changes to business structures

If your business changes its internal infrastructure or is considering rolling out a new sales initiative, we can offer consultancy on the best approach to achieve your objectives in a compliant manner.

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