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Results: 1-10 of 1936

9 Jul 2020

With the additional Government funding and Activate Cycle Academy's launch of a brand new apprenticeship standard for bicycle mechanics there has never been a better time to take on an...

8 Jul 2020

The Competition and Markets Authority is leading a Digital Markets Taskforce to provide advice to the Government on the potential design and implementation of pro-competitive measures for...

8 Jul 2020

Coronavirus is clearly having a huge impact on retail workers but one ofthe impacts that is often overlooked is its effect on the mental wellbeing of those working in our stores.

7 Jul 2020

The Government has now published its response to the Call for Evidence on Violence and Abuse towards shop staff which closed in June 2019.

2 Jul 2020

Innovative indie retailers who adapt their business to combat the impact of Covid-19 are to be recognised in a special category in Britain's Best Small Shops competition 2020

2 Jul 2020

The Government has published the Business and Planning Bill in the Houseof Commons designed to make provision relating to the promotion of economic recovery and growth.

1 Jul 2020

Rental e-scooters will become legal on roads in Great Britain from this Saturday, in a bid to ease pressure on public transport amid the coronavirus crisis

1 Jul 2020

To gauge the intentions of the British public, Maybe* has gathered 20,000 answers from regions across the UK to understand if and when they'll return to the shops, and what their concerns...

1 Jul 2020

The FCA are requesting that firms now prepare for phased move to FCA's new data collection platform RegData.

24 Jun 2020

Recent research has investigated how consumer behaviour has developed over the past few months as people have adapted their shopping styles tothe lockdown

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Retail finance: Change to FCA authorisation

Posted on in Business News , Cycles News

The following change to FCA authorisation only applies to businesses that have FCA Authorisation for Limited Permission Secondary Credit Brokering, meaning businesses that can offer regulated POS retail finance. If your business holds additional authorisations or is dual regulated, in other words it is also regulated by the Prudential Regulation Authority (PRA), you should seek independent advice.

The FCA have announced that on the 9th December 2019 the Approved Persons Regime (APR) will be replaced with the Senior Managers and Certification Regime (SM&CR). If your business holds an FCA authorisation you will be receiving emails from the FCA about this which you should read and check all the details are still correct; in particular that the current Approved Person still works for the business.

The good news is a business with a limited scope authorisation will automatically have their APR function converted to the corresponding Senior Management Functions and no form is required.

To check your firm has a limited scope function search the FCA register for your business (use either your business name or firm registration number (FRN)) and expand the ‘Permissions' section which should show the following.

If you are in any doubt you should contact the FCA directly on 0300 500 0597. If you don't currently have FCA authorisation contact the ActSmart team to discuss.

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