Federal Management approved by FCA
Federal Management has received full approval from the FCA in relation to performing Debt Collection and Debt Recovery Activities in the UK, following a lengthy administration process.
The Debt Collection Industry is now subject to heavier scrutiny than ever and any legitimate Debt Collection Agency will be approved under section 59 of the Financial Services and Markets Act (FSMA) 2000 to perform Debt Recovery and closely associated activities.
All aspects of our organisation have been subject to assessment from our Recovery practices to compliance processes that have been deemed ‘fit for purpose’. In addition, key figures within our company have also been passed a fit and proper persons to operating a company that successfully recovers millions of pounds on behalf of its clients every year.
It is hoped that these new licensing and compliance laws will rid the Debt Collection industry once and for all of bad practices and inappropriate conduct. Federal Management continues to strive for Collection perfection we welcome any improvements to existing legislation that help to eradicate rogue entities that purport to offer Debt Collection services.
This official recognition and approval of our high levels of professionalism and fit for purpose operations will only serve to further cement our reputation.