SimplyBiz launches Consumer Credit Centre in response to regulatory change

The FCA took over regulatory responsibilities for the sector from the Office of Fair Trading (OFT) on Tuesday - a move that effectively doubled the FCA's number of supervised firms. The switch-over will mean firms that hold a consumer credit licence will have to navigate an updated regulatory regime and will face increased levels of supervision, SimplyBiz said. Although not typically a prerequisite for advice firms, network and support services operator Tenet recently suggested many advisers will need to obtain a licence for some of their ancillary business. SimplyBiz said its CCC ...