Are you an authorised firm which engages Introducers, referrers or lead generators?  Perhaps you are an investment firm, you organise consumer credit or you are another organisation which is authorised by the Financial Conduct Authority (FCA).  If so what do you need to know?

You need an Introducer Agreement

You need to ensure that you have an appropriate Introducer Agreement in place with your Introducer, because the FCA has warned that your organisation will be held responsible (and subject to regulatory action) if:

  • The Introducer goes beyond their remit when ‘introducing’ and/or
  • The potential end customer is given unsuitable or misleading advice.

This helpful report by the FCA highlights areas of concern and warning signs you should be looking for if you are using an Introducer model.

What to do next

If you have any concerns, you should get in touch with the FCA direct and/or request-a-quote for legal advice via the CloudLegal website. You can purchase a general Introducer Agreement (one-way) template or an Introducer Agreement (two-way) template on www.cloudlegalsupport.com if you don’t have an agreement currently in place.

 

Let us know if we can help you!

Author: Yvonne Morris

Email: yvonne@cloudlegalsupport.com

website: www.cloudlegalsupport.com

twitter: @CloudLegals

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CloudLegal is a tech-enabled legal support consultancy which promises practical commercial and jargon-free advice. We support all company matters, commercial contracts/ Ts & Cs (including software and IT), employment & HR as well as data protection matters. We have various services including: