Vehicle recoveries firm Wright Recoveries has received Financial Conduct Authority (FCA) approval of its early application for full authorisation.
The company, which applied for full FCA permission in June 2014, was granted authorisation after a series of assessments.
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Managing director of Wrights Recoveries, Joanne Wright, said: "The decision to grant full permissions follows months of rigorous and stringent assessment by the FCA."
"We now look forward to developing new relationships in 2015 with companies who wish to work with a fully FCA approved business".
Wrights, formed in 2004, offers a national and European asset recovery service for vehicle repossessions, with a client list including Lloyds Banking Group, Mercedes Benz Financial Services and Banque PSA.
Collections agencies have been relatively quick out of the block in gaining full FCA approval. In October, for example, Burlington Group was authorised as a principal by the new regulator.
http://www.motorfinanceonline.com/news/burlington-becomes-first-collections-principal-4396815/
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