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 operates under the authority of an FCA-authorised firm, known as the principal firm, rather than holding its own FCA authorisation.
Principal firms are accountable for the compliance of their FCA Appointed Representatives and must ensure they appoint only suitable representatives. They are also required to have robust controls in place to maintain regulatory compliance.
Becoming an FCA Appointed Representative can be a cost-effective and faster way to engage in regulated activities. However, it is not a way to avoid regulatory responsibilities.
For more information about being an FCA Appointed Representative, please visit the FCA website.
"If you think compliance is expensive,
try non-compliance."
WHY JOIN OUR AR NETWORK
If a motor dealer is Directly Authorised by the FCA and engages in General Insurance Mediation, they bear full responsibility for meeting the FCA’s regulatory requirements. This includes the risk of penalties, fines, and enforcement actions.
Motor dealers who join our Appointed Representative (AR) network operate under our regulatory umbrella. This allows them to conduct business as if they were Directly Authorised, while we assume the full responsibility and risk for FCA compliance.
By joining our network, members benefit from:
-
No need to apply for FCA authorisation or submit reports through Gabriel
-
Protection from direct FCA fines or sanctions
-
The ability to negotiate rates and terms across the market
-
Freedom to choose their preferred products and suppliers
-
Access to best-in-class compliance systems
-
Online staff training and competency assessments
-
Dedicated compliance support
-
Cost savings
Joining our AR network provides motor dealers with peace of mind and comprehensive regulatory support.
FCA COMPLIANCE.... BUT DONE RIGHT!
OTHER COMPLIANCE SERVICES
Compliance Software
For motor dealers that are Directly Authorised, maintaining robust record-keeping, audit trails, management information, and governance has become increasingly critical to ensuring compliance and demonstrating fair treatment of customers.
Our ComplianceTrak suite provides motor dealers with industry-leading FCA compliance software solutions tailored for both Consumer Credit and General Insurance activities.
Additionally, dealers can enhance their compliance efforts with our OnTrak online e-learning system, offering comprehensive competency training for their teams.
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.