UK Bond Network, the corporate bond investment and financing platform, has received direct authorisation from the Financial Conduct Authority.
The approval from Britain’s financial regulator is a landmark for the company and follows the successful completion of the FCA’s authorisation process over several months to ensure regulatory standards are met. Previously, UK Bond Network operated under a regulatory ‘umbrella’, offering services under an appointed representative arrangement.
Authorisation involves a considerable effort and investment of time and resources by applicant companies. Successful candidates must demonstrate sound management, commitment to high business standards, and robust technical systems.
UK Bond Network is now among a small number of firms which have been fully authorised to operate alternative finance platforms. Authorisation presents UK Bond Network with additional potential lines of growth, such as the ability to offer customers the Innovative Finance ISA (individual savings account), which is available only on those platforms operated by directly authorised firms.
Chris Maule, CEO and Founder of UK Bond Network, said: “Stringent standards are at the heart of everything we do. We believe this approval will further strengthen the confidence that our investors and corporate clients have in our platform, services and people.”