It was refreshing to hear today that the NACFB are launching NACFB Compliance Services, further evidencing their commitment to the sector.

Over the last 12 months we have visited a multitude of seminars organised by funders, compliance firms, solicitors and the FCA themselves and the message has been loud and clear that on the whole brokers don’t know what is expected of them and have been looking for someone to take their hand and help them through the process. Now thankfully it appears that the NACFB have taken it upon themselves to help their members.

Asset Finance Solutions have been preparing for regulation now for over 18 months and we understand the amount of work that goes into putting together the policies, procedures, systems and controls that will be required to meet the regulators expectations and with the help of the NACFB and Compliance First the wider broker community will now have the guidance they need to meet the regulators threshold conditions.

As we have found, this process isn’t a case of filling in a few forms and getting someone to give you a set of policies and procedures, it requires businesses to adopt as part of their strategy the principals of the FCA. The workshops will give the Brokers that attend a real insight into what the FCA expect of them and also enable them to change their business to become compliant.

It’s great to see the association listening to it’s members and delivering solutions.