TERMS & CONDITIONS 01604 76 22 33 AT NO POINT ARE OUTCOMES GUARANTEED, AS ALL DECISIONS ARE AT THE DISCRETION OF THE FCA REGULATORY PERMISSIONS LIMITED - Companies House No.8194096, Registered in England & Wales Separating the wood from the trees: The new Consumer Credit regime explained Your position as at today could be one of five:  i) You have your Interim Permission in place, awaiting a date to be invited to Authorise in full, or indeed have a date already provided (some running into 2015 and beyond)  ii) You are an active Consumer Credit firm, but missed the deadline for applying for Interim Permissions (31st March 2014)  iii) You are considering starting a new business caught under the Consumer Credit regime  iv) You are FSMA-Authorised already, and wish to add Consumer Credit activities to your permissions  v) You are not sure if what you wish to do is caught by the regime, or what the difference between Limited and Full permissions is, and how that may or may not apply to you  One phone call (or e-mail) and we will leave you with full clarity on your options regarding all of the above scenarios.  Your options going forward  Addressing the above points in order:  i) You might have a business-need to bring forward your given date, or may need to add new Consumer Credit activities to what you already do.  In both cases, you will need special permission from the FCA to bring the date forward, and if granted permission, would then apply for full Authorisation earlier than would have been the case.   To bring this date forward, you need to contact the FCA at this e-mail address: application.period@fca.org.uk , you will need in this e-mail to cite: Firm name, contact name, contact position, OFT number, list of new activities wishing to add, (if any), confirm said Application is not already ‘in-flight’ with the OFT, and the reason for the need for the new activities (if any are new)  ii) The speed of how quickly you can get re-licenced will depend on if you need Limited or Full licencing - please call to discuss  iii) Please call to let us discuss your ideas and how they might be affected by the new regime  iv) There is a special paper-based route for this - please call to discuss.  v) These areas of discussion are known as Perimeter queries, and we specialise in providing full clarity in the first phone call or e-mail;  Of course, this area will also include discussion of your business model and what fits where in the Consumer Credit regime.  Timelines  Their statutory statement of six to twelve months notwithstanding, we are anticipating Full Licences to be granted within three to four months, and Limited Licences a fair bit faster than that.  We will update this section with actual real-world results, as soon as we have them, which is when we will all know for sure where we stand.  The reason for this optimism is that the FCA have created and deployed a fully electronic submission and processing system, similar to that which was used for the last time this kind of mass-Authorisation exercise had to occur - when Insurance firms were Authorised for the first time.