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ITC Compliance
Monday 30th March 2015 12:53am

www.itccompliance.co.uk
T: 0845 177 22 66
F: 0845 177 22 55

CONSUMER CREDIT SOLUTIONS

Consumer Credit represents perhaps the biggest regulatory challenge firms have ever faced. With the income derived from credit activities and the ability to provide a credit facility to customers crucial to the sustainability of most retail motor dealers; can you afford to make a mistake?

At ITC we understand that firms need support and guidance and we understand why some firms may believe that opting out of being authorised is an attractive route. With a fast changing landscape, before you decide how you are going to approach regulation, ask the right questions of the right Network... ITC.


Appointed Representative Status - Consumer Credit

Despite ITC being one of the largest and best resourced networks in the UK, the provision of full Appointed Representative status for consumer credit remains an uncertain and risky arena. With the industry as a whole unable to reconcile a uniformly compliant stance on such items as rates and terms, commission structures, voluntary termination clauses and affordability; the pooling of uncertainty and associated risk into a Network is, in our opinion, neither readily manageable or sensible.

This view of the landscape is vindicated with a major high street bank and key motor finance provider already finding itself unable to deal with motor sector consumer credit AR networks on compliance grounds and other lenders likely to follow suit as they take stock of their regulatory oversight responsibilities.

Contact us to find out which of the rules are causing the most concern and how ITCs support program can give you the freedom you require with the support you desire.

Virtual Appointed Representative (VAR) - a package of support exclusive to ITC...

With ITCs Consumer Credit Compliance Support program you give up your compliance headache, whilst maintaining your own FCA permissions and crucially your independence. - For most organisations (and their shareholders) staying in control of the lifeblood of their business is not just sensible, it's business critical. With some lenders already refusing to deal with consumer credit ARs; we designed our VAR compliance support program just for you!

Systems processes and controls

With market leading systems, comprehensive policies and procedures manuals all backed by your own professional indemnity insurance policy (subject to underwriting, terms and conditions); for those who already have some of the required compliance elements in place, ITC have the tools and expertise to plug the gaps.


Start benefiting from these services...


... regulation doesn't have to be a puzzle


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