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Welcome to the Rent Back Charter Association
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Formed in May 2008 and now with over 50 registered and paid up members, the Rent Back Charter Association (RBCA) represents the interests of ethical & professional smaller and larger landlords alike, whose rental business is already specialised, or becoming more specialised, in the purchase of properties at below market value and renting them back to their former owners over a number of years.
Our focus is to ensure that formal regulation of Sale & Rent Back ("SARB") is proportionate and equitable to members of all sizes, helping our members adapt and prosper in the new regulated world. We also advise consumers considering urgent SARB transactions.
Effective 1st July 2009, SARB transactions came under regulation by the Financial Services Authority (FSA). This followed a six-month market study in 2008 by the Office of Fair Trading, and subsequent parallel consultation processes in 2009 by HM Treasury and FSA on their proposed legal framework and how to implement it. RBCA contributed directly to the OFT study and also made formal responses to HM Treasury and to FSA. Copies of these Consultation Papers, RBCA's Submissions, the OFT Report, and the FSA's current SARB Rules, are available to RBCA Members from the MemberZone
RBCA is currently FSA authorised to provide advice to consumers considering SARB and to arrange transactions with SARB agreement providers (i.e. authorised investors). If you are seeking help on an urgent transaction send us a Call Back Request. We will respond promptly to clarify your circumstances and recommend the most appropriate SARB arrangements to meet your needs.
RBCA Members without direct FSA authorisation cannot themselves offer advice or arrange transactions, but they can legally introduce their clients to RBCA to act in such capacity. Members should contact director@rentbackcharter.com for terms and conditions.
At present about a third of all firms on FSA's Interim Authorised Register are RBCA members. This includes advisers, arrangers, SARB agreement providers and scheme administrators. RBCA is actively engaging with non-member firms to co-ordinate industry response to ongoing FSA consultation on regulatory details.
SARB regulation has been introduced with unprecedented speed, necessitating a two-stage FSA supervision process. During the first year (the so-called Interim Regime) only experienced SARB firms may be authorised with no firms new to the FSA being considered after 1st August 2009 until the Full Regime commences - expected July 2010. Between now and then RBCA expects further FSA consultations on wider regulatory issues like minimum capital adequacy, direct selling, transparency of disclosure, passive investor schemes, training & competence assessment, transaction reporting and compliance.
In addition to representing members' interests as FSA regulation develops, and facilitating regulatory compliant SARB transactions, RBCA offers various member services including: an authorisation advisory consultancy; outsourced compliance support; training and competence programmes.
We are now inviting like minded ethical & professional landlords to join us in this effort - please visit the rest of our website for further information.
Kevan Keegan
Director & Membership Secretary
15th August 2009
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