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Authorised firms (Credit brokers)
This page provides information for providers that are already directly authorised by the Financial Conduct Authority as Credit Brokers
The process for unlocking Knoma's longer loan terms is slightly different as a directly authorised firm.
As a directly authorised firm, much of the necessary due diligence will have already been completed by the FCA as part of your application.
As such, the process of getting set up with Knoma's regulated product is fairly straightforward.
A Credit Brokering agreement will need to be completed between Knoma & yourselves.
As a Credit Broker your level of responsibility is heightened with regards to data management & records. You will be responsible for ensuring all data related to Knoma's regulated product is recorded and accessible if requested by the regulatory body.
You also have responsibility for managing & reporting complaints and do not need to first report complaints to Knoma.
As a Credit Broker you will have responsible personnel appointed to ensure company compliance with FCA regulations and these responsible individuals will be listed on the FCA register, under your company.