What services does ABM Global Compliance offer to debt-related firms?

ABM Global Compliance provides a range of services including FCA authorisation, AML/CTF policy development, risk management frameworks, governance and internal controls, regulatory reporting, and ongoing compliance support.

How can ABM Global Compliance assist with FCA authorisation?

We assist debt-related firms in obtaining FCA authorisation by preparing the necessary application documentation, establishing governance structures, and ensuring compliance with regulatory requirements.

What is included in AML/CTF & KYC/KYB policy development?

Our services include the development and implementation of anti-money laundering, counter-terrorist financing, and know-your-customer/business policies tailored to the specific needs of debt-related firms.

Why is a risk management framework important for debt-related firms?

A robust risk management framework helps debt-related firms identify, assess, and mitigate potential risks, ensuring compliance with regulatory requirements and protecting the firm's reputation.

What does ongoing compliance support entail?

Ongoing compliance support includes continuous monitoring of compliance status, staff training, and updates on regulatory changes to ensure debt-related firms remain compliant with evolving regulations.

Debt Services Compliance | FCA Advisory & Licensing

Overview

Debt-related service providers assist consumers in managing, restructuring, or resolving their existing debts through counselling, management plans, and settlement negotiations. Operating in a highly regulated environment, these firms must comply with strict conduct standards, maintain transparent communication with clients, and implement robust internal controls. ABM supports debt management firms in achieving full regulatory compliance, ensuring fair treatment, protecting vulnerable consumers, and fostering trust and confidence in service delivery.

Key Compliance Challenges

FCA Authorisation for Debt Adjustment or Advice

Firms providing debt advice or adjustment services must obtain the appropriate permissions from the Financial Conduct Authority (FCA). Maintaining authorization requires demonstrating sound governance, effective controls, and adherence to regulatory obligations.

Transparent Disclosure and Charges

Debt service providers must clearly communicate fees, charges, and service terms to consumers, ensuring that clients understand the cost, process, and outcomes of debt management services.

Suitability and Best Interest Duty

Providers must act in the best interests of clients, conducting thorough assessments to recommend suitable debt solutions and ensuring proper record-keeping to support decision-making.

Vulnerable Customer Protections

Special care is required for consumers in vulnerable situations. Firms must implement processes to identify vulnerability, provide appropriate support, and prevent potential exploitation or harm.

Advertising and Financial Promotions

All marketing and promotional materials must comply with FCA standards, ensuring that communications are fair, clear, and not misleading.

Record-Keeping and Audit Trail

Comprehensive documentation of client interactions, recommendations, and approvals is essential for audit readiness and regulatory inspections

How ABM Can Help

Licensing Application

ABM provides guidance on selecting the appropriate FCA permissions, reviewing business models, preparing documentation, and implementing post-authorisation risk controls.

Ongoing Compliance Support

We assist with customer file reviews, suitability assessments, AML/KYC implementation for debt clients, vulnerability handling frameworks, and periodic internal compliance health checks.

Regulatory Reporting

ABM supports FCA reporting requirements, including client outcomes, complaint and breach management, and escalation documentation.

Specialized Training

Our training programs cover FCA conduct rules for debt advisors, AML and financial crime prevention, ethical debt handling, vulnerable customer awareness, and proper record-keeping.

Audit & Assurance

ABM conducts AML/CFT audits, file testing for client suitability, transaction monitoring for adjusted debts, and reviews of complaint handling processes to ensure compliance and operational integrity.