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Post by Deleted on Mar 17, 2017 8:54:09 GMT
As per this page on the FCA website: register.fca.org.uk/ShPo_firmdetailsPage?id=001b000000yhRdtAAEI don't see any indication on that page that BondMason is in the process of getting FCA membership/regulation. It says: "No longer registered as an Appointed Representative. This is an appointed representative (AR) that is no longer an agent of an authorised firm. Do not start to do business with an AR that is listed as 'former'." Then it says: "Sub Status: Former " I'm not able to understand this entry but it does make me wonder - does anyone know what it means? Thanks. |
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ilmoro
Member of DD Central
'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 Mar 17, 2017 11:44:01 GMT
As per this page on the FCA website: register.fca.org.uk/ShPo_firmdetailsPage?id=001b000000yhRdtAAEI don't see any indication on that page that BondMason is in the process of getting FCA membership/regulation. It says: "No longer registered as an Appointed Representative. This is an appointed representative (AR) that is no longer an agent of an authorised firm. Do not start to do business with an AR that is listed as 'former'." Then it says: "Sub Status: Former " I'm not able to understand this entry but it does make me wonder - does anyone know what it means? Thanks. can probably explain why. I dont think receivables are a regulated product. The BM principals are all FCA regulated themselves IIRC so its possible that BM doesnt need it hence allowing AR status to lapse Register doesnt show what applications companies are pursuing but BM would need full authorisation to offer an IFISA (or AR status with a principal who is) so they are seeking it but they need FCA to allow receivables to be included in an ISA which currently cant be. Discussions ongoing AIUI. FCA entry was on my list of things to query if/when I actually decided to invest through BM
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Post by bobthebuilder on Mar 17, 2017 12:02:35 GMT
BM's explanation can be found in their FAQs hereIs my investment …..regulated by the FCA? "BondMason is not regulated by the FCA, however we have an application pending with the FCA for certain additional permissions." This was also covered in an early thread on the BM board on this forum: p2pindependentforum.com/thread/6081/bondmason-company-health |
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Post by stevefindlay on Mar 17, 2017 12:22:36 GMT
In 2015 we put in place an Appointed Representative agreement to cover some investor-sided permissions for example fund management. Through later discussions with the FCA these were not deemed to be required.
When we submitted our FCA application (December 2015) for additional permissions, it is a requirement that you should resign from any Appointed Rep agreements prior to receiving Full Authorisation. As we weren't using the the Appointed Rep permission we resigned from this a few months ago...in anticipation of receiving our Full Permissions...
Hope that clears it up!
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Post by Deleted on Mar 17, 2017 12:27:39 GMT
In 2015 we put in place an Appointed Representative agreement to cover some investor-sided permissions for example fund management. Through later discussions with the FCA these were not deemed to be required. When we submitted our FCA application (December 2015) for additional permissions, it is a requirement that you should resign from any Appointed Rep agreements prior to receiving Full Authorisation. As we weren't using the the Appointed Rep permission we resigned from this a few months ago...in anticipation of receiving our Full Permissions... Hope that clears it up! Thanks! Yes that does explain it.
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