The package, called 'I Comply', gives brokers access to CETA's software, product range and service support in an integrated, fully complaint package. 'I Comply' is free of charge - all brokers need do is register with CETA. There are no membership fees or ongoing charges for using CETA's services.
CETA director Adrian Waters says: "I Comply is a must for all brokers, particularly directly authorised intermediaries who don't have the benefit of compliance support from a network principal. The concept behind the development of I Comply is to provide a complete package that takes care of everything from a compliance perspective. Brokers will therefore be able to continue writing GI business secure in the knowledge that they have in-depth compliance support."
I Comply will enable brokers to source GI products using CETA's 'Product Watch' system. Fact-finds can also be produced, along with full quotations, all documentation, a policy summary and a statement of demands and needs.
CETA will also prepare all renewal documentation, provide documentation relating to any subsequent policy changes, keep full records for three years, and assist brokers with their obligations under the FSA money rules. The final part of the package includes training and competence support for each of the relevant product areas.
Waters adds: "We fully appreciate that brokers want to ensure their income stream is not interrupted as they prepare for regulation. 'I Comply' will not only enable brokers to do that, but it will also enable them to maximise their earnings potential in the future. It's a great package and I have no doubt it will prove to be popular."