Cabot / Marlin Credit Licence with the FCA

[Amethyst]

This is from Cabot's website

Important Information about Cabot Credit Management Group's authorisation with the FCA.

How is our Group authorised with the Financial Conduct Authority

Cabot Credit Management Group Limited (CCM), a company registered in England and Wales with Company no. 4934534, (Cabot) is authorised and regulated by the Financial Conduct Authority (FCA) with firm reference number 677910.

Cabot has all necessary permissions to carry on the regulated activities of the group.
All debts purchased by our Group are owned by purchasing entities, known as Special Purpose Vehicles (SPVs). All our SPVs are exempt from being authorised by the FCA as the SPVs have appointed Cabot to arrange the administration of the relevant debts/portfolios on their behalf.
From 1 April 2016, Cabot will appoint Apex Credit Management, Cabot Financial (Europe), Cabot Financial (Marlin), Hillesden Securities t/a dlc and Midland Credit Management India as its appointed representatives to carry out debt-collecting and debt administration services. Cabot will assume full regulatory responsibility for Apex Credit Management, Cabot Financial (Europe), Cabot Financial (Marlin), Hillesden Securities t/a dlc and Midland Credit Management India.

Notes to Editors
- CCM became authorised and regulated by the Financial Conduct Authority on 11 March 2016.
- Our SPVs are:
United Kingdom
Cabot Financial (UK) Limited, Marlin Capital Europe Limited, MCE Portfolio Limited, MFS Portfolio Limited, Marlin Europe I Limited, Marlin Europe II Limited, ME III Limited, ME IV Limited, Marlin Europe V Limited, Marlin Europe VI Limited, Cabot Financial Portfolios Limited
EU
Cabot Asset Purchases (Ireland) Limited, Cabot Securitisation (Europe) Limited
- The UK SPVs and the Appointed Representatives rely on exemptions pursuant to Article 60I of the Financial Services and Markets Act 2000 (Regulated Activies) Order 2001 and the Financial Services and Markets Act 2000 (Appointed Representatives) Regulations 2001 and do not require to be authorised by the Financial Conduct Authority.
- Apex Credit Management Limited, Cabot Financial (Europe) Limited, Cabot Financial (Marlin) Limited, Hillesden Securities Limited (t/a dlc), part of the Cabot Credit Management Group of Companies; and Midland Credit Management India Private Limited, a wholly owned subsidiary of Encore Capital Group, Inc., all have consumer credit interim permission with the Financial Conduct Authority which will expire on 31 March 2016.

If you have reason to doubt the veracity of any communication from the Cabot Credit Management Group please contact cabotpr@cabotcm.com who will be able to confirm authenticity.
The Financial Conduct Authority, which is the UK's market conduct regulator which sets out to protect consumers, enhance the integrity of the UK financial services market as well as promoting effective market competition and operates a register of authorised firms, appointed representatives and approved individuals. Details of our registration with the Financial Conduct Authority can be found on the Public Register.

[Amethyst]

Re: Cabot / Marlin Credit Licence with the FCA

Check on the FCA REGISTER https://register.fca.org.uk/ShPo_Fir...000000m3s3oAAA - (Reference number: 677910)

A firm may use several trading names or brand names under the same permission. This list shows the names that have been reported to us, but you may want to contact the firm for full details
Current names:

Registered	Cabot Credit Management Group Limited	21/12/2014
Trading	Apex Credit Management Limited	19/03/2015
Trading	Cabot	19/03/2015
Trading	Cabot Credit Management	19/03/2015
Trading	Cabot Financial (Europe) Limited	19/03/2015
Trading	Cabot Financial (Marlin) Limited	19/03/2015
Trading	Midland Credit Management India Private Limited	19/03/2015

‘Agent status’ shows whether an agent currently has an active relationship with any principal firm.

Apex Credit Management Limited	No	No	743545	8/4/2016
Cabot Financial (Europe) Limited	No	No	743525	8/4/2016
Cabot Financial (Marlin) Limited	No	No	743357	7/4/2016
Hillesden Securities Limited	No	No	743516	8/4/2016
Midland Credit Management India Private Limited	No	No	743548	8/4/2016

[R0b]

Re: Cabot / Marlin Credit Licence with the FCA

Section 3.12 Authorised representatives???

nem

Nem just bringing into this thread instead. I accept that their 'SPVs' may have arranged Cabot Credit Management who then appoint AR's as above. However, part of the SPV exemptions is this:

The conditions which must be met by the SPV seeking the benefit of the same are that it:

Does not undertake debt-counselling, debt-collecting or debt adjusting within the meaning of the Regulated Activities Order (RAO)

Therefore if CF UK have instructed Restons for example, they will be undertaking debt collection within the meaning of the FSMA and the RAO. Therefore they have no exemption on that basis and it must be one of the appointed AR's who is instructing the solicitors as an agent. Where CFUK directly involves itself with the solicitors, that is an attempt to procure the debt and the SPV exemption cannot apply.

So the question I keep repeating on previous occasions is, find out who is instructing the solicitors - if its CFUK then they're not exempt. If its an AR on behalf of CFUK then the exemption will apply.

Nevertheless on that thread, CFUK clearly conducted regulated activities prior to the so called exemption so can they pursue something that was done illegally in the first place? I would argue not.

[nemesis45]

Re: Cabot / Marlin Credit Licence with the FCA

Nem just bringing into this thread instead. I accept that their 'SPVs' may have arranged Cabot Credit Management who then appoint AR's as above. However, part of the SPV exemptions is this:


Therefore if CF UK have instructed Restons for example, they will be undertaking debt collection within the meaning of the FSMA and the RAO. Therefore they have no exemption on that basis and it must be one of the appointed AR's who is instructing the solicitors as an agent. Where CFUK directly involves itself with the solicitors, that is an attempt to procure the debt and the SPV exemption cannot apply.

So the question I keep repeating on previous occasions is, find out who is instructing the solicitors - if its CFUK then they're not exempt. If its an AR on behalf of CFUK then the exemption will apply.

Nevertheless on that thread, CFUK clearly conducted regulated activities prior to the so called exemption so can they pursue something that was done illegally in the first place? I would argue not.

It's my impression that the AR status of the " trading styles " of Cabot Credit Management had interim permissions prior to their current status.
I suppose it's probable that " negotiations " took place between Cabot Credit Management and the FCA allowing the companies to trade while changes were made.
Something we will not be easily able to discover.

nem

[billnortonlawyer]

Re: Cabot / Marlin Credit Licence with the FCA

What's the Cabot Credit Management's criteria of appointing AR. Can you provide me with quality resource?

[nemesis45]

Re: Cabot / Marlin Credit Licence with the FCA

What's the Cabot Credit Management's criteria of appointing AR. Can you provide me with quality resource?

See FCA website Licensing and Authorised Representatives.

nem