News Article

Consumer Credit

Hoist Finance UK achieves FCA authorisation

By CreditMan Wednesday, July 27, 2016

Hoist Finance UK, the pan-European debt restructuring partner, has achieved authorisation from the Financial Conduct Authority (FCA) – the official ‘stamp’ from the new regulator that serves as permission for Hoist Finance to carry out certain regulated activities within the consumer credit space. Authorisation is a requirement of the Financial Services and Markets Act.

The application to achieve authorisation was rigorous; the FCA reviewed Hoist Finance’s processes and procedures, and scrutinised every detail of its activities over a ten-month period. The FCA agreed that Hoist Finance met the threshold conditions for approval and that the running of the firm was conducted in a fit and proper manner.

Najib Nathoo, Regional Director, says that authorisation confirms the company’s place as a leading force within the industry, and the transparency of its operations: “We are very happy to have succeeded in achieving authorisation,” he said, “but this is the beginning and that means we cannot rest on our laurels. We will continue to evolve new ways of working with customers and clients that deliver the best outcomes and set the benchmark for best practice within our industry.”