The UK Financial Conduct Authority has published a final notice given on 10 July 2019 to Interest Free Loans Limited refusing its application for permission to (amongst other things) enter into a regulated credit agreement for high-cost short-term credit as lender.
The final notice gives a useful insight into the FCA’s approach when considering an application for authorisation for credit-related regulated activities. For example, it lists the documents sought from the applicant (see paragraph 22) and the kind of information the FCA expects to see in policy and procedure documents (see paragraph 28).