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15 Nov 2019

ACS has briefed all prospective parliamentary candidates on the policy issues that affect local shops

13 Nov 2019

The Secretary of State for Transport, The Rt Hon Grant Shapps, has updated the House on key recent achievements by the Department for Transport

13 Nov 2019

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12 Nov 2019

Sarah Graham, owner of Arragon's Cycles has spoken out about how the competition has affected their business and how they continuously strive for greatness.

12 Nov 2019

This year's COREbike show will be taking place between Sunday 27th to Tuesday 29th of January.

12 Nov 2019

A recent story published on BBC news shows how a popular finance provider misled a 21-year-old student which ended in her...

11 Nov 2019

GoFundMe is being used as a method for small businesses to raise funds that are cash-strapped and struggling

6 Nov 2019

A Bristol-based deli with a reputation for incredible cakes and superb takeaway dishes, cooked on site, has been named as Britain's Best Small Shop of 2019.

4 Nov 2019

This year two amazing art shops and a stunning stationery shop have been named in the running to be Britain's Best Small Shop 2019!

4 Nov 2019

This year 3 fantastic gifts shops have been shortlisted that will provide you with everything you could possibly need for Christmas, birthdays and even a few treats for yourself!

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Retail finance: Change to FCA authorisation

Posted on in Business News , Cycles News

The following change to FCA authorisation only applies to businesses that have FCA Authorisation for Limited Permission Secondary Credit Brokering, meaning businesses that can offer regulated POS retail finance. If your business holds additional authorisations or is dual regulated, in other words it is also regulated by the Prudential Regulation Authority (PRA), you should seek independent advice.


The FCA have announced that on the 9th December 2019 the Approved Persons Regime (APR) will be replaced with the Senior Managers and Certification Regime (SM&CR). If your business holds an FCA authorisation you will be receiving emails from the FCA about this which you should read and check all the details are still correct; in particular that the current Approved Person still works for the business.


The good news is a business with a limited scope authorisation will automatically have their APR function converted to the corresponding Senior Management Functions and no form is required.


To check your firm has a limited scope function search the FCA register for your business (use either your business name or firm registration number (FRN)) and expand the ‘Permissions' section which should show the following.



If you are in any doubt you should contact the FCA directly on 0300 500 0597. If you don't currently have FCA authorisation contact the ActSmart team to discuss.

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