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|Arrow Global FCA Authorisation|
|Monday, 22 August 2016|
Arrow Global Group PLC (the "Group"), one of Europe's leading purchasers and managers of debt, is pleased to announce that its wholly owned subsidiaries Arrow Global Limited, Arrow Global Legh Limited, Arrow Global Massey Limited, and Capquest Debt Recovery Limited have received their full Financial Conduct Authority (the “FCA”) authorisation.
In April 2014, the debt purchase and management industry, along with the wider consumer credit industry, saw a change in regulator from the Office of Fair Trading (OFT) to the FCA. At the time, companies were granted interim permissions and were allocated a ‘landing slot’ where they could apply for full FCA authorisation. The Group’s subsidiaries were allocated a Q3 2015 application slot and since this date we have been working with the FCA on full authorisation.
Today’s announcement marks the successful completion of this application process and confirms the entities’ full FCA authorisation.
Commenting, Tom Drury, Group Chief Executive Officer, said: "We are delighted to have received the necessary FCA authorisations. They are an important milestone for the Group and are core to delivering on our strategy.”
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