Welcome
For those working in the ever- changing regulated sector FCA authorisation can be a complex and time consuming process. At Citrus we offer the ideal solution with our FCA authorised Principal Network, giving our customers the opportunity to trade under our regulatory umbrella as an Appointed Representative, while also dealing with the day to day requirements of their compliance obligations.
SECTORS WE WORK IN
Motor Finance
Insurance Claims Handling
Insurance Claims Handling
With over 30 years’ experience in the Motor Finance industry, our expert team understands how your business works.
Insurance Claims Handling
Insurance Claims Handling
Insurance Claims Handling
Our Appointed Representative solution supports a number of Loss Assessor and Insurance Claims Handling businesses.
Asset Finance
Insurance Claims Handling
Asset Finance
Widen your customer base as an Appointed Representative of Citrus Compliance.
What it is
If your business offers finance or leasing terms to customers, or assists with the management and settlement of a property damage claim for a policyholder, you are likely to need authorisation from the Financial Conduct Authority (FCA).
There are two ways you can do this:
1) Direct Authorisation
You draft and submit an application including comprehensive policy, business planning, and other supporting documents to the FCA requesting permission to be authorised. This process can typically take between 6-12 months and you cannot being until you are authorised. It also means that your business and key individuals within are personally responsible and liable for the conduct of the firm and any failings the FCA may find.
It is becoming increasingly difficult and more complex to achieve successful authorisation, and the ongoing costs of maintaining a suitable compliance regime can be high, typically involving recruitment of at least one additional specialist, or engaging expert consultants to help.
2) Appointed Representative
The alternative is to become an AR of an authorised Principal firm (such as ourselves). This allows you to offer the FCA regulated products and services but under our permissions, with us taking full responsibility and liability for your compliance.
The process of appointment usually takes between 6-8 weeks and is supported at every stage by us as your Principal firm. You are not only provided with the ability to use our permissions, but also we give you everything you need, including training, to be able to offer regulated products and services to your customers. Plus we control and manage all aspects of your FCA compliance ensuring you remain compliant.
This is a much simpler option and allows you to focus on what you do best, leaving us to manage the compliance and regulatory aspects for you.
For smaller firms, or firms where finance or insurance assistance are secondary activities, becoming an AR is a viable and cost effective option which not only saves you time and money but also removes much of the stress. We will tell you everything you need to know and do to be fully compliant.
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We are dedicated to making your AR Network transition as seamless as possible,
to allow you to focus on your business throughout.
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About Citrus – more than just an AR Network
Citrus are part of the Paxen Group, a double award winning compliance and consultancy firm with over
20 years of regulatory experience across various sectors. As such we do not believe in a ‘one size fits all’ approach to compliance and are committed to designing a bespoke package that works best for you
and your business.
We are here to make life easier and our expert staff will guide you through every stage of the process, through onboarding and initial FCA training, to back end support with your website content, financial promotions, and social media activity.
At Citrus we have the experience and the expertise to guide you through every regulatory challenge,
giving you the peace of mind of knowing you, and your business, are always in safe hands.
The Benefits of Being an AR
- Low set up and monthly cost
- A quicker and simpler option than full FCA authorisation
- Access to our FCA training portal for all your staff
- Dedicated account manager providing ongoing advice and support
- No FCA returns
- Don't have to deal with your FCA complaints
- Receive all necessary user guides and compliancy support
Here to help
We make things personal:
We make things personal:
Financial services providers, investment firms and consumer credit firms must be authorised or registered by the FCA.
FCA direct authorisation application can take between 6 -12 months (pre Covid) and costs a few thousand pounds.
You will go through a rigorous FCA assessment, you will need to be ready, willing and organised to comply with FCA’s rules and requirements at all times.
There is another way!
By joining Citrus Compliance Appointed Representative Principal Network you let us take full regulatory responsibility for your business.
We make things personal:
We make things personal:
We make things personal:
We understand that not every business is the same, talk to us to create your own tailor-made FCA solution.
0800 688 9934
Below you will find our AR application form
FCA News
Copyright © 2018 Citrus COMPLIANCE - All Rights Reserved.
Citrus Compliance and Citrus are trading styles of Andrew Smith who are authorised and regulated by the Financial Conduct Authority. We are a credit broker not a lender.
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