Aequitas Automotive Ltd, the company behind online broker Shortfall.co.uk, are pleased to confirm that from 1st February 2019 our regulatory status has changed from an appointed representative to being directly authorised and regulated with the Financial Conduct Authority.
The change of regulatory status also means our registration number with the FCA (known as the FRN) changes from 541186 to 821163.
Company Director Mark Griffiths explained the reasons for the change.
“Aequitas has developed several brands online since 2010. In that time we have gain invaluable experience in the regulatory field having a ‘Principal’ firm expertly guiding us.”
“Now being directly authorised with the FCA it provides us with the opportunity to explore exciting new projects in both the insurance and credit brokering fields”.
“Whilst the immediate difference between being an appointed representative and directly authorised to our customers may not be significant, in the long term it can only provide us with more options. That, in turn, will be a good thing for our customers.”
“We have always taken the view that the ‘all eggs, one basket’ approach to the insurers we use is not a good thing. We prefer to offer several options to products, where we can. This provides the consumer with more choice.’
“Being directly authorised will only help us build new relationships with insurers, and expand relationships with current ones. That can only be a positive step for our customers”
Aequitas Automotive Ltd are also please to confirm that the new status will not change the underwriting arrangement for Shortfall.co.uk. MAPFRE will remain the insurer for all GAP Insurance, Tyre, Alloy Wheel and Cosmetic Repair products. Acasta will remain the underwriter for Motor Excess Insurance.