Navigating FCA Regulation for Funeral Plans: A Strategic Guide

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Introduction to FCA Consumer Credit Regulations

• Overview The FCA took over the regulation of
  Consumer Credit firms in April 2014, enforcing
  new rules to protect consumers.
• Key Changes Introduction of price caps, payday
  lending rules, and restrictions on credit
  brokers.
• Impact By 2018, over 900 million in redress was
  given back to customers.

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FCA's Consumer Credit Regime

• Scope Covers a wide range of activities, from
  lending to debt collection and advisory services.
• Firm Expectations All firms must lend
  responsibly and treat customers fairly, with
  different rules based on their permissions.
• Debt Management Enhanced regulations to improve
  assistance for customers in arrears.

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Understanding Limited vs. Full Permissions

• Limited Permissions For firms providing
  secondary services, such as car dealers
  introducing customers to lenders.
• Full Permissions Required for firms whose
  primary service is financial, like finding
  customers for loans.
• Application Process Limited permissions are
  simpler and quicker to obtain.

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FCA Authorisation Process

• Fact-finding with a Regulatory Advisor.
• Documentation support, including a Regulatory
  Business Plan and Compliance Monitoring Plan.
• Online application submission to the FCA.
• Ongoing Compliance Continuous support for
  maintaining compliance and avoiding breaches.

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Why Choose MEMA Consultants?

• Experience Supporting firms since 2019 with a
  blend of regulatory expertise and industry
  insight.
• Tailored Solutions Customized compliance
  frameworks and strategic guidance.
• Client-Centric Approach Dedicated advisors to
  ensure successful FCA authorisation and long-term
  compliance.

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CONTACT US



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03301330811



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