Sunday, August 25, 2013

Credit Risk Profile – OFT Form CRP 1 - Office of Fair Trading

Credit Risk Profile – OFT Form CRP 1 - Office of Fair TradingConsumer Credit Licensing Credit Risk Profile – OFT Form CRP 1 For more information go to www.oft.gov.uk Please read these guidance notes carefully before completing the form. What is the purpose of this form? The Credit Risk Profile form is designed to assist the Office of Fair Trading in considering the skills, knowledge, experience and business controls of an applicant or licensee in determining whether it is competent to carry out regulated credit activities. If you knowingly or recklessly misrepresent, or fail to reveal, information that you are asked to provide, you will have committed a criminal offence under the Consumer Credit Act 1974. Please note that, after receipt of your completed form, we may still need to contact you

for any further information we consider necessary to consider your application. Who should fill in this form? This form is applicable for all applicants for any of the following licence categories: A – Consumer credit C – Credit brokerage G – Debt Administration who have also answered “yes” to any of the questions relating to secured, sub-prime or at home lending or broking; or “yes” to the questions relating to secured or sub-prime debt administration, and for all applicants for the following category I – Credit reference agency Before completing the form you should check whether you actually need to apply for a consumer credit licence. YOU SHOULD ONLY APPLY FOR LICENCE CATEGORIES YOU WILL ACTUALLY REQUIRE. See www.oft.gov.uk for further details. F or m CRP 1 Contents of the form The contents of the form are as follows: Part 1 Business details Part 2 Skills, knowledge and experience Part 3 Business practices and procedures Part 4 Complaints handling Part 5 Lenders only – money laundering Part 6 Credit reference agencies Part 7 Declaration Data protection The information you provide in this form will be processed in accordance with data protection principles. Whilst the Data Protection Act 1998 and section 237 of the Enterprise Act 2002 restrict disclosure of the information provided in this form, they also allow disclosure for a number of purposes without your further consent. You will be informed of such disclosure where this is reasonably practical. For example, the OFT may use the information in connection with enforcement or regulatory action it takes under its own powers or may refer the information to other government departments or regulatory, enforcement or public authorities in connection with the exercise of their functions. For help with this form, call 020 7211 8608, 9am to 5pm Monday to Friday. Filling in the form The purpose of this form is to collect information about your skills, knowledge and experience in relation to the high-risk credit activities which you have applied for; and about the business practices and procedures which you will have in place to ensure you are able to comply with the standards of business behaviour expected from those who engage in these credit activities. Some of the questions in the form are worded in general terms and this reflects the large differences between the types of firms which will need to apply for these licence categories, ranging from small...

Website: www.oft.gov.uk | Filesize: 205kb
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