Leading the Way in Legal Services for Lenders
The regulatory environment for lenders is ever changing and those operating in the consumer credit industry need a reliable and dependable legal servicer that can adapt to these changes. On 1 April 2014 the regulation of consumer credit firms will transfer from the Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA). Solicitors such as Lightfoots LLP will therefore no longer be able to operate under the group licence historically available to them by reason of their membership of the Law Society.
Lightfoots LLP is delighted to announce that after having obtained its own individual consumer credit licence for the regulated activities of Debt Collection and Debt Administration, it has now successfully registered for interim permission with the FCA for those activities.
“We’re proud to have qualified for interim permission from the FCA,” said Ian Norman, Partner, “and we’re now looking forward to securing the future of Lightfoots LLP in providing quality niche legal services in the financial sector for many years to come.”
Lightfoots LLP is therefore able to continue to deliver Debt Collection and Debt Administration services for its various lender clients after 1 April 2014 and intends in due course to apply for long-term authorisation from the FCA.