What is compliance?

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What is compliance?
The challenge of having robust compliance policies
and procedures and staying up-to-date with the FCA's
regulations that apply to your business.

What is Compliance

A motor dealer wishing to sell vehicles on finance, and/or insurance backed products is required to be
authorised and regulated by the Financial Conduct Authority (FCA).


Do you sell cars, motorbikes, commercial vans or trucks on finance and/or offer insurance products?

Are you aware what good compliance looks like?

Do you have the correct systems, processes and procedures?

Can you evidence an FCA compliance culture with robust controls?

We know your business

Our specialist expertise will tell you exactly:
what you need to know, what you need to do, and how you need to do it.


Do motor dealers have to be authorised by the FCA to sell finance and/or general insurance?

Yes, either Directly Authorised or as an Appointed Representative of a Principal Firm.

What if a Motor Dealer is not authorised by the FCA, and would like to sell finance and/or general insurance?

You do have options, contact us here at Automotive Compliance Ltd, and we will be happy to help.

I am a Motor Dealer Directly Authorised by the FCA, where do I get advice?

Read the FCA Handbooks (Finance =Consumer Credit Sourcebook CONC, General Insurance = Insurance Conduct of Business Sourcebook ICOBS) and interpret how they apply to your business, not got the time or the inclination, contact us.

Do you “Horizon Scan” and keep up-to-date with the FCA regulations, Consultation Papers and Policy Statements?

What is an Approved Person?

This person has to know and meet the regulatory requirements as well as understand how the regulations apply to them.

Who is my company’s Approved Person?

This is something you need to know, you can find out who is on the FCA’s Register of Approved Persons’

I’m not big enough, will the FCA take actions against me if I fail my regulatory requirements?

Your business could be at risk if you do nothing, being compliant will mean you are mitigating your risks, not only will you be able to sleep at night but is a great message to give your customers.