Does a process server really need to be FCA registered?
On 1st April 2014 the regulation of debt collection moved to the FCA (Financial Conduct Authority) from the OFT (Office of Fair Trading). One major change that occurred was the exemption of third party tracing agents who merley traced debtors. There is no longer a need for investigators, enquiry agents or tracing agents undertaking this work to be registered.
However, to the suprise of many, it was recently stated by a representative of the FCA that they considered that the activity of process serving fell under the regulated activity of debt collection and that anyone not having been granted interim permission by the FCA and partaking in the serving of process related to FCA regulated debt was doing so outside of the law.
It is our undertanding that at present the majority of process servers in UK have not obtained interim permission and now face a lengthy delay before being able to obtain FCA permission.
We can confirm Tremark Associates are holders of a Consumer Credit Licence No 402508 and have succesfully obtained interim permision from the FCA. A copy of our FCA Interim Permission can be seen by clicking here
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