NACFB announces extraordinary general meeting
On 23 September the NACFB is inviting all its members to a special interim conference to support the next set of changes the association has to make response to the regulated environment.
Since 1 April 2014 the FCA has given commercial finance brokers wider options and we have seen the emergence of principals and appointed representatives (ARs) within our sector. The NACFB’s Code of Practice and Constitution are been revised to accommodate a new regulatory landscape not only being led by the FCA but also by our lenders and funders. We cannot make any changes to our practices without of course reverting to our members to approve the changes that we feel are necessary to keep the commercial finance broking industry in line with the demands of 2015 and beyond.
We need to ensure that the association is protecting our members and preparing the broking industry for a sustainable future. This is not only about regulatory changes, but to react to the requirements from the 124 lenders that we work with. They are keener than ever that we encompass regulation and support the broking industry as we forge even tighter links with the asset finance funders, high street and challenger banks and the alternative lending market.
Hitachi has recently supported 140 new brokers joining the NACFB’s membership, and two other lenders are set to follow that example. This gives us enormous opportunities, but also extra responsibility to ensure that commercial finance brokers remain the primary source of new business introductions.
The NACFB has secured the services of a regulatory lawyer whose task is to oversee some constitutional reforms and the redrawing of such critical documents as our code of practice. We will be engaging with our membership before we reach the extra ordinary general meeting along with the regulator, our patrons and other trade association.
The NACFB is holding its interim conference and EGM on September 23rd at the Hilton Metropole in Birmingham, and we are calling on all those interested in the future of the industry to play their part in shaping their association for the future.
You can register here
