Awards & Associations
The Financial Conduct Authority (FCA)
FCA Authorisation has been a regulatory requirement in the Commercial Finance industry for all firms or individuals wishing to broker credit since 2013. Operating in the industry without authorisation is a serious offence and can lead to prosecution.
A firm or individual must either apply to the FCA for direct authorisation or elect to work under the supervision of an authorised Principal Firm as an Appointed Representative (AR) or a Registered Individual (RI). All Brokerplan network partners are provided with full FCA compliance support and guidance by the FCA principal broker (White Rose Finance Ltd).
The FCA registration process is reasonably straightforward and the partner is usually set up and able to trade within 4 weeks – A full understanding of FCA compliance is provided as part of the initial business training.
The Financial Intermediary and Broker Association (FIBA)
Brokerplan is an active member of FIBA with representation on both the FIBA Executive Committee and Education Committee in conjunction with the London Institute of Banking & Finance. By joining the network all ARs and RIs are granted full network membership, the cost of which is covered by the monthly support fee.
FIBA provides support to all types of professional finance intermediaries with the aim of growing their businesses by helping to deliver products and services to their clients.