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The Association of Cycle Traders
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Results: 1-10 of 1799

18 Nov 2019

The Conservative Party proposes to provide a business rates discount for retailers

13 Nov 2019

The Secretary of State for Transport, The Rt Hon Grant Shapps, has updated the House on key recent achievements by the Department for Transport

13 Nov 2019

The 5 main asks for the next government to encourage walking and cycling

12 Nov 2019

Sarah Graham, owner of Arragon's Cycles has spoken out about how the competition has affected their business and how they continuously strive for greatness.

12 Nov 2019

This year's COREbike show will be taking place between Sunday 27th to Tuesday 29th of January.

12 Nov 2019

A recent story published on BBC news shows how a popular finance provider misled a 21-year-old student which ended in...

11 Nov 2019

GoFundMe is being used as a method for small businesses to raise funds that are cash-strapped and struggling

30 Oct 2019

After years of planning, the ‘Connecting Leeds' scheme is now underway,which will transform travel for people who live, work and visit the city.

28 Oct 2019

The eBike Summit have announced that they will return to Oxford University's Wolfson College in Spring 2020

28 Oct 2019

Alongside The Cycle Show last month Cytech are offering a third off the Theory one course until the end of October, allowing you to start your Cytech journey for less.

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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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