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AUTOMOTIVE APPOINTED REPRESENTATIVE NETWORK

JOIN OUR APPOINTED REPRESENTATIVE NETWORK

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

WHAT IS AN APPOINTED REPRESENTATIVE?

An FCA Appointed Representative is a firm or individual authorised to carry out regulated activities under the supervision of an FCA-authorised firm, known as the principal firm. Rather than obtaining direct FCA authorisation, the appointed representative operates under the authority of this principal firm.

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Responsibilities of Principal Firms

Principal firms are responsible for overseeing the activities of their appointed representatives, ensuring that they adhere to FCA regulations. This includes conducting thorough due diligence to appoint only suitable representatives and implementing strong compliance controls to maintain ongoing regulatory standards.

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Benefits of Becoming an FCA Appointed Representative

Becoming an FCA Appointed Representative can be a cost-effective and efficient route to entering the regulated market, offering faster access to engage in regulated activities. However, this does not exempt the representative from regulatory responsibilities. Both the representative and the principal firm must ensure full compliance with FCA regulations.

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For detailed information on becoming an FCA Appointed Representative, please visit the FCA website.

"If you think compliance is expensive,
try non-compliance."
AR Network
Speech Marks

WHY JOIN OUR APPOINTED REPRESENTATIVE AR NETWORK

Are you a motor dealer directly authorised by the FCA for Consumer Credit or General Insurance Mediation? If so, you’re shouldering the full burden of FCA compliance, including the risk of penalties, fines, and enforcement actions.
 

But there's a better way!

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Join Our Automotive Appointed Representative AR Network and Let Us Handle the Risk for You.

When you become part of our Appointed Representative Network, you continue to operate just as you would if you were directly authorised—but with none of the regulatory headaches. We take on the full responsibility for FCA compliance, allowing you to focus on growing your business.


Here’s what you gain by joining us:

  • No FCA Authorisation Hassles: Skip the complex FCA application process and Gabriel reporting—leave it to us.

  • Protection from FCA Penalties: Avoid direct fines or sanctions—we handle all compliance risks.

  • Market-Leading Flexibility: Negotiate the best rates and terms across the market, with no restrictions on product or supplier choice.

  • State-of-the-Art Compliance Systems: Access cutting-edge compliance tools to streamline your operations.

  • Expert Compliance Support: Get dedicated guidance and support from our experienced team.

  • Online Training & Assessments: Keep your staff compliant with easy-to-access online training and competency assessments.

  • Cost Savings: Save on compliance costs while maintaining top-tier regulatory standards.
     

Peace of Mind, Simplified Compliance.

Joining our Automotive Appointed Representative Network gives motor dealers like you peace of mind, operational flexibility, and a comprehensive support system to navigate the complexities of FCA regulation.

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Whether you're directly authorised or an authorised representative of another firm, our network allows you to focus on driving success while we take care of the rest.

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Join today and let us manage the risk, so you can grow your business with confidence!

Appointed Representative
FCA COMPLIANCE.... BUT DONE RIGHT!
AR Network
  • What is the role of a Principal Firm in relation to an Appointed Representative?
    A Principal Firm is a business that assumes regulatory oversight for an FCA Appointed Representative company or individual on behalf of the Financial Conduct Authority (FCA). This structure is designed to reduce the regulatory responsibilities of the Appointed Representative, allowing your business to remain compliant without interrupting daily operations. As a Principal Firm is directly authorised by the FCA, you can trust them to provide guidance and support to ensure that your business adheres to FCA regulations. This partnership allows you to focus on running your business, knowing that compliance requirements are being managed effectively. Principal Firms and Appointed Representatives collaborate closely to ensure that this working relationship is mutually beneficial and efficient.
  • What is Expected of an Appointed Representative?
    As an FCA Appointed Representative, you have certain responsibilities, including understanding and complying with the FCA's regulations within your business. However, at ComplianceTrak, our primary role is to help ease the burden on appointed representatives by streamlining their tasks. The key expectations for an appointed representative are twofold: Compliance with FCA regulations: You are expected to ensure your business operates in line with the FCA's standards, particularly in treating customers fairly across all interactions, including financial dealings, advice, and services. Providing access to information: The Principal Firm requires access to relevant business information to confirm your adherence to the FCA's guidelines. Our goal is to support you in managing these responsibilities effectively, ensuring your business remains compliant while minimising the workload.
  • What is a FCA-regulated industry?
    An FCA-regulated industry is one that is overseen by the Financial Conduct Authority (FCA) to ensure compliance with financial regulations. This includes industries that deal with financial activities such as loans, investments, insurance, or consumer credit. For example, the automotive industry falls under FCA regulation due to its involvement in financing options, insurance contracts, and related transactions. However, the FCA’s oversight extends beyond the automotive sector. It applies to any industry engaged in financial services or activities that may involve claims, credit, or insurance. Industries such as banking, insurance, real estate, and accounting are also regulated by the FCA, among many others. Currently, the FCA regulates approximately 51,000 businesses across a wide range of industries in the UK.
  • What is ComplianceTrak’s role as the Principal firm?
    ComplianceTrak acts as the Principal firm, providing regulatory oversight and support to its appointed representatives. ComplianceTrak ensures that its appointed representatives meet all FCA requirements, helping them remain compliant while conducting regulated activities.
  • What are the benefits of becoming an appointed representative of ComplianceTrak?
    The key benefits include: Access to ComplianceTrak’s regulatory expertise, software and support. Reduced regulatory burden, as ComplianceTrak assumes responsibility for FCA compliance. Quicker access to market without the need for direct FCA authorisation. Comprehensive compliance support, including ongoing monitoring and reporting.
  • What activities can I conduct as an appointed representative under ComplianceTrak?
    The specific regulated activities you can conduct will depend on your business needs and agreement with ComplianceTrak. These typically include Consumer Credit and advising and arranging of General Insurance products. ComplianceTrak will provide guidance on the scope of permissible activities.
  • Do I need to be directly authorised by the FCA to become an appointed representative?
    No, appointed representatives operate under the authorisation of a Principal firm like ComplianceTrak. You do not need direct FCA authorisation, but ComplianceTrak is responsible for ensuring your compliance with FCA regulations.
  • What is the process to become an appointed representative of ComplianceTrak?
    The process typically includes: Initial discussions to assess your suitability. Completion of due diligence checks. Signing a contract with ComplianceTrak outlining the terms of the relationship. Submission of an application to the FCA for approval of your appointed representative status. To find out more information contact our team by clicking HERE or call 01246 488180
  • What regulatory responsibilities does ComplianceTrak take on?
    ComplianceTrak takes on the primary regulatory responsibilities, including: Ensuring appointed representatives comply with FCA regulations. Conducting regular monitoring and reviews. Submitting necessary reports to the FCA. Handling complaints and ensuring appropriate record-keeping.
  • How does ComplianceTrak support appointed representatives in staying compliant?
    ComplianceTrak offers comprehensive compliance support, which includes: Access to the market-leading ComplianceTrak software Regular compliance reviews and audits. Ongoing training and guidance on regulatory matters. Access to regulatory updates and industry best practices. A dedicated compliance team to handle any queries or issues.
  • What are the costs involved in becoming an appointed representative of ComplianceTrak?
    The costs vary based on the scope of services required and the type of regulated activities you will perform. ComplianceTrak typically charges an onboarding fee and an ongoing fee for compliance and regulatory services. Detailed costs are discussed during the application process.
  • What happens if I fail to comply with FCA regulations as an appointed representative?
    If an appointed representative fails to comply, ComplianceTrak, as the Principal firm, will work to resolve any issues. This may include additional training, implementing corrective actions, or reporting the breach to the FCA. Continuous non-compliance may lead to termination of the appointed representative agreement.
  • Can I change or expand the services I offer as an appointed representative?
    Yes, you can expand or change the regulated services you offer, but this will require approval from ComplianceTrak and may involve updating your agreement with them and notifying the FCA.
  • How long does the process take to become an FCA appointed representative of ComplianceTrak?
    The timeline can vary depending on the complexity of your business and the FCA’s processing times. Typically, the process takes between 4 to 8 weeks, including due diligence and FCA approval.

OTHER COMPLIANCE SERVICES

ComplianceTrak Compliance Software

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.

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Our ComplianceTrak suite provides motor dealers with industry-leading FCA compliance software solutions tailored for both Consumer Credit and General Insurance activities.

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Additionally, dealers can enhance their compliance efforts with our OnTrak online e-learning system, offering comprehensive competency training for their teams.

Compliance Support Services

Compliance Support Services

For motor dealers who wish to maintain their own Direct FCA Authorisation but have limited internal compliance resources, our Compliance Support Services can help remove the risk and burden of 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, and 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. 

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