What is the role of the FPA?
As previously referred to, the FPA imposes Rules and a Code of Practice on its registered providers which go beyond the requirements of the legislation. This adds additional security to the funds paid by the planholder. Furthermore, the FPA has an independent Compliance Committee which reviews information provided by Registered Providers to ensure they are complying with the legislation and with FPA requirements. The Authority’s Code of Practice goes further than the legislation by imposing rules for conduct of business on registered providers. Providers who are not registered are not subject too such rules.
