michaelc
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Say No To T.D.S.
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Post by michaelc on Oct 9, 2018 20:42:01 GMT
I was looking at a p2p platform and it turned out their FCA status is an appointed representative of another company.
Would you invest in such a company? Why wouldn't they obtain FCA authorisation in their own right?
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Oct 9, 2018 23:00:28 GMT
I was looking at a p2p platform and it turned out their FCA status is an appointed representative of another company. Would you invest in such a company? Why wouldn't they obtain FCA authorisation in their own right? Yes. Time. Takes about 2 years to get full authorisation from scratch (probably quicker now backlog cleared). Quite a few platforms started as AR to get going and then switched to own Auth later. PC, HC, B&G. Cost may also be a factor, don't need all the compliance side, legals, as someone covers that for a fee.
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