Interim permission: consumer credit

A firm that held an Office of Fair Trading (OFT) licence and registered for interim permission can continue carrying out consumer credit activities.

Interim permission to conduct consumer credit activities will last until a firm has completed the application process and we have granted a decision regarding authorisation, or until a firm cancels its permission. If your firm is new to consumer credit – and therefore does not have interim permission – you can apply for authorisation now.

If a firm held an OFT licence and did not register for interim permission, it cannot legally continue carrying out consumer credit activities and must stop doing so until it is authorised.

If you held an OFT licence but exited the market by 1 April 2014 you should tell us you stopped consumer credit activities.

You can see our Consumer Credit Register of firms that have interim permission. You can search this register to see a firm’s basic details, licence categories, contact and the current status of the firm's interim permission.

Significant changes within a firm

You need to tell us if there are any significant changes within a firm that has interim permission.

You can use the Consumer Credit Interim Permission (CCI) system to amend basic details such as a firm name, address or telephone number. See our CCI user guide (PDF, 71KB, 10 pages) for further information.

To replace the interim permission contact at a firm the new contact firstly has to register on the CCI system. The current contact then has to login and select ‘Replace firm contact’, add the email address of the new contact and select the firm(s) to transfer. If the current contact has left the firm you will have to contact us to replace the contact.

You can also use the CCI system to reduce the scope of your permissions. However, you cannot add permissions – to do this you will have to apply for authorisation.

For other significant changes within your firm – as set out in the supervision guide in our Handbook – you will have to use the appropriate form annexed to Chapter 15 of the Supervision module of the Handbook.

You should include your interim permission number (formerly OFT licence number) and your FCA firm reference number on this form; email it to or post it to Customer Contact Centre, 25 The North Colonnade, London, E14 5HS.

Appointed representatives

A firm that intends to operate as an appointed representative in the longer term has to make arrangements with an authorised firm (known as a principal firm) to act as an appointed representative before the end of its application period.

Appointed representatives need to meet any relevant Approved Persons requirements, as advised by your principal.

To act as a principal, a firm must be:

  • already authorised by us
  • authorised for the consumer credit activities your firm intends to carry out

Once appointed as a representative the firm can cancel its interim permission by using the Consumer Credit Interim Permission (CCI) system.

Cancel interim permission

You can cancel your interim permission using the Consumer Credit Interim Permission (CCI) system.

If you have interim permission but do not want to apply for authorisation or a variation of permission, email to tell us, with your interim permission reference number (formerly OFT licence number) (if applicable) in the subject line.

You must take steps to ensure that all consumer credit activities that would require authorisation cease before the end of your application period. You must also make sure that your firms customers, including any client money held, are dealt with appropriately.

Last updated: 01 Sep 2015

First published: 11 May 2015