CHANGES to the way the consumer credit industry is regulated has seen numbers stack up for a North Yorkshire compliance expert.

Twelve months since launching Consumer Credit Compliance, Ian Beardmore has seen his firm, which is based in Harrogate’s Windsor House, being hired by more than 250 firms, including national car dealerships, cosmetic surgery clinics and credit broker,- to handle new, compulsory licence application submissions.

Last April, regulation of the consumer credit industry was taken out of the hands of the Office of Fair Trading (OFT) and given to the Financial Conduct Authority (FCA).

It has now introduced a raft of new rules that companies operating in the consumer credit industry have to adhere to in addition to instigating a new licensing scheme.

Mr Beardmore said: "When the Government first announced it was changing the body that regulates consumer credit I saw an opportunity.

“I spoke to David Petty, a friend and IT expert, about my vision, and, together, we launched Consumer Credit Compliance last January."

Mr Petty added: "Thanks to Ian’s expertise in the compliance field, we have been appointed by more than 250 companies to complete either a limited or full licence, a number of which are multi-nationals.

"And, with ten-of-thousands of companies requiring an FCA licence, we are looking to increase the business significantly, which will include a major recruitment drive.

"We are also looking at breaking into other areas too where some form of compliance is need in order for a business to operate."