FLA launches broker accreditation service

The Finance & Leasing Association (FLA) has launched a new asset finance accreditation service to help brokers demonstrate compliance with their regulatory responsibilities and the FLA’s Business Finance Code, and to streamline the checking process that funders undertake when working with intermediaries.

Accreditation will have to be renewed annually to confirm ongoing compliance and is supported with access to bespoke training and regulatory updates. Inclusion in the system also increases brokers’ visibility to lenders looking for partners.

As the service is new to the industry, the FLA says it wants to ensure its continuing value in simplifying funder/broker arrangements, so an FLA asset finance broker review forum is being set up to discuss the service, shape improvements and future developments.

Stephen Haddrill, director general of the FLA, commented: “Intermediaries are an important part of the industry, and the new accreditation service will help us work smarter with our partners for the benefit of our customers.”