FCA registration required for affiliate site?

[DLOE]

I have been doing some research on this, but have been unable to find an answer for this.

Let's say I want to start a comparison website where people can:

- Compare financial products such as loans, savings accounts, credit cards etc.. By using static comparison tables, so just a fixed table with different providers, no filters.
- Insurance comparison tools using a third party comparison tool like the one Quotezone offers.

Would I need to be FCA registered for this?

I would technically not be giving any advise as:
- I use a static table where I basically list a couple providers.
- For more complex comparisons I would use a third party tool.

Thanks

 

[Helmuts]

Hi, FCA has rules for websites that compare financial products. Even though you might not be giving specific advice, your site could still need to follow these rules depending on how your comparison tool works.

just had a look t https://www.fca.org.uk/search-results?search_term=price comparison websites .. quite difficult to nagivate through..

PS16/15 probably applies to you: https://www.fca.org.uk/publications...p15-33-consumer-credit-proposals-response-cma

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humm... interesting topic.. this means a new webmaster will have so high entry barrier into this well-known affiliate business model, that many will fail in the very beginning (and the big ones will be able to close these sites with 1 email).

hummm...

Have you thought about calling FCA? It might be risky though. They might collect your information and ask if you already have a financial comparison website. If you say yes and your site isn't following the rules, they might force you to shut it down.

 

[DLOE]

Thanks Helmuts.

I might give them a call and see what they say.

Had a look at some of the bigger websites and they are all FCA regulated, but I guess that is because they work direct, not as affiliates.

 

[Helmuts]

Thanks Helmuts.

I might give them a call and see what they say.

Had a look at some of the bigger websites and they are all FCA regulated, but I guess that is because they work direct, not as affiliates.

I had clients/webmasters (serving some specific niches of gambling and online banking industryies) and they found that FCA is awesome with advice when you don't have a product yet. And the story is totally different as soon FCA realize you actually operate a website that gives some kind of advice.. especially for individuals (not companies).

Best!!