This grants Promise Finance permission to undertake arranging mortgages and general insurance under the legislation that comes into effect from October 31, 2004 and January 14, 2005 retrospectively.
When the Financial Services Authority began regulating life and pensions, it undertook massive and significant changes that revolutionised the industry. This has resulted in the compliance team implementing changes in the company's infrastructure, completing intricate application forms detailing compliance, processes and systems of control to evidence ability to comply with FSA regulation
Trevor Davies, compliance manager at Promise Finance, says: “We embraced the stringent changes that faced us in a constructive and positive manner. The time, money and efforts invested were paramount and will be of great benefit to our customers, ensuring we are more transparent in our approach to customer service and standards. We welcome the challenges that the future holds and delivering the high standards our customers expect and deserve.”