AutoProtect Group has transferred its dealer compliance advisory operation served by iComply Online to Automotive Compliance.
AutoProtect said it plans intends to cease operating as a Principal Firm under the FCA’s Appointed Representative regime, and subject to the FCA’s approval, are working on an orderly transfer of its Appointed Representative network to Automotive Compliance.
In essence it means AutoProtect can focus exclusively on selling insurance and warranty products and leave the compliance to an outside party.
AutoProtect Group CEO Graeme Nieman, said: “We are very proud of the role we have played in supporting dealers across the UK with their insurance compliance needs over the past 11 years.
“Our decision to transfer all of our compliance advisory services to a trusted partner with whom we already work, centres on our drive for operational excellence. Automotive Compliance are leaders in their field, leaving space for us to focus on excellence in the supply of F&I products and services.
“I am confident that dealers appreciate the value of this change and how it will benefit them long-term.”
Paul Speakman at Automotive Compliance, said: “As well as being delighted that AutoProtect Group invited us to collaborate with them on the transfer of their compliance operation to Automotive Compliance, I am pleased that the transfer has been progressing so smoothly.
“The dealer feedback has been overwhelmingly positive and we are extremely pleased to welcome the experienced team from iComply to join us. Compliance is a challenge for all dealers, and our span of support and track record are proving to be a significant reassurance to dealers in what we all know is a time of increased regulatory attention.”
The transfer to Automotive Compliance includes AutoProtect Group’s iComply team, dealer clients, and AutoProtect’s Appointed Representative Network.