MOTOR DEALER APPOINTED REPRESENTATIVE AR NETWORK

JOIN OUR APPOINTED REPRESENTATIVE NETWORK

REMOVE THE BURDEN AND THE RISK OF BEING DIRECTLY AUTHORISED AND REGULATED BY THE FCA BY JOINING OUR APPOINTED REPRESENTATIVE (AR) NETWORK

WHAT IS AN APPOINTED REPRESENTATIVE?

An FCA Appointed Representative is a firm or individual that does not hold authorisation from the FCA but instead acts under the authority of an authorised firm’s authorisation known as the principal firm.

 

Principal firms are responsible for the compliance of their FCA appointed representatives and are obligated to ensure that they only appoint suitable FCA appointed representatives and that there are appropriate controls in place to ensure their compliance.

 

Being an FCA appointed representative is often a cost-effective and quicker route to being able to undertake regulated activities. However, becoming an Appointed Representative of a Principle Firm is not a soft option of getting out of regulation. 

 

You can read more about being an FCA Appointed Representative on the FCA website.

 "If you think compliance is expensive,
try non-compliance." 

WHY JOIN OUR AR NETWORK

If a motor dealer is Directly Authorised with the FCA and carries out any General Insurance Mediation, they assume full risk and responsibility for complying with the regulatory requirements of the Financial Conduct Authority (FCA) and are directly open to penalties, fines, censorship and/or enforcement.

 

Motor dealers that choose to join our Appointed Representative AR network come under our regulatory umbrella, meaning they can act in the same way as a Directly Authorised business, we take care of everything and assume full risk and responsibility for FCA regulation.

 

By joining our network our members benefit from: 

 

  • Not having to apply to the FCA for authorisation or submitting report data through Gabriel

  • Not exposed to direct fines or sanctions by the FCA

  • Have the ability to negotiate rates and terms across the market 

  • Have the ability to choose the products and suppliers of their choice

  • Best-in-class compliance systems

  • Online staff training and competency assessments

  • Receive dedicated compliance support 

  • Save money

FCA COMPLIANCE.... BUT DONE RIGHT!
 

OTHER COMPLIANCE SERVICES

Compliance Software

For motor dealers that are Directly Authorised, scrutiny on record keeping, audit trails, management information and governance has become even more crucial with ensuring compliance and demonstrating that customers have been treated fairly.

 

Our ComplianceTrak suite of products offers motor dealers best-in-class FCA compliance software solutions for carrying out both Consumer Credit and General Insurance activity.

 

On top of this dealers can also benefit from our online e-learning competency training system OnTrak.

Compliance Support Services

Motor dealers who wish to maintain their own Direct FCA Authorisation but have limited internal compliance resource, our Compliance Support Services can help remove the risk and burden of keeping staying compliant. 

 

We offer the exact same range of systems and controls we provide for our own AR network including; electronic systems, processes and procedures, audits, complaint handling, regulatory reporting that they are taking significant steps to ensure they meet their regulatory requirements and ongoing guidance. This package will give confidence to firms

 

If you are currently Directly Authorised and have concerns, our compliance support services solution will put you back on track. 

Contact Us

Phone:

Email:

Support:

  • White Twitter Icon
  • White LinkedIn Icon

ComplianceTrak Ltd is authorised and regulated by the Financial Conduct Authority FRN: 914597. You can check this information on the Financial Services Register at https://register.fca.org.uk/

Dealer compliance software 

Automotive compliance

FCA compliance software

Compliance Training

Copyright © 2020 ComplianceTrak Ltd. All rights reserved