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9 Jul 2025

A recent BBC Breakfast segment has sparked backlash from the cycling community over its portrayal of e-bikes, with critics accusing the broadcaster of conflating legal e-bikes with illegal,...

8 Jul 2025

More than 30 locations across Scotland have seen a major rise in the number of people cycling, according to newly released data.

7 Jul 2025

Sixteen illegally upgraded e-bikes capable of speeds up to 40mph have been seized and disposed of in a joint enforcement operation in Birmingham city centre.

7 Jul 2025

Bristol-based Cytech training provider and ACT member Life Cycle has launched its award-winning Bikes Beyond Bars programme at HMP Bullingdon, expanding a project that has already impacted lives...

4 Jul 2025

New data from Strava reveals a major surge in cycling across the UK, with Gen Z and Millennials leading the charge.

3 Jul 2025

Shimano has launched an urgent investigation into what it describes as a “critical” shortage of skilled bike mechanics across Europe, warning that the situation threatens to...

2 Jul 2025

MPs have called on Amazon and eBay to tighten controls after e-bikes and chargers flagged as serious fire risks were found for sale on their platforms.

25 Jun 2025

The E-Bike Positive campaign has seen major success in the first half of 2025, with its message reaching nearly 8 million people across the UK through high-profile media coverage and growing...

20 Jun 2025

The House of Commons Business and Trade Committee has asked the ACT, and its parent company Bira, to help them reach out to small business retailers across the country, for their quick input on...

20 Jun 2025

Activate Cycle Academy has reopened its Cytech training facility in Darlington, offering a full range of courses from Home Mechanic up to Cytech Technical Three.
 

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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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