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FCA update – What You Need to Legally Introduce Finance to Customers

Boat sellers are able to register directly with the FCA for limited permission or full permission credit activity. This can take up to 12 months, costs £300 and involves regular reporting of credit activity to the FCA via their online reporting system. FCA website

If you don’t want this hassle you can apply to become our Introducer Appointed Representative (IAR). This then allows you to promote finance, introduce customers to us and advertise finance (with our compliance advisers approval). There is no cost to you just a simple form to complete and to sign a contract with us.

Promarine do all the work for you and as a “principal” firm we are responsible for your consumer credit activity and reporting on your behalf to the FCA.

If you want to know more please email or call on 01432 347788