Is invoice factoring regulated in the UK?

Invoice factoring is not currently regulated by the Financial Conduct Authority (FCA). An industry-wide code of conduct is provided by the UK Finance to ensure a fair service and integrity is provided for invoice factoring services. It is widely accepted that the regulation of the invoice finance sector would contribute to the increasing costs of its services. Therefore, this enables invoice factoring providers to remain competitive and provide a low-cost solution for businesses seeking to utilise invoice factoring services.

What is invoice factoring? Once I have made contact with Novuna, how long will it take for someone to see me? Is invoice factoring considered a loan? Why would a UK company use a factoring company? Is invoice factoring suitable for my business? How much does invoice factoring cost? How effective is invoice factoring? How do I transfer from my existing invoice factoring provider? What makes a business suitable for factoring and can anyone use it? Our company has recently experienced rapid growth, would invoice factoring be a viable option? Is it possible to terminate an invoice factoring contract prior to the 12 month term? How can we use invoice factoring to finance our staffing agency? What is a factoring company? How does a factoring service work? How does invoice factoring work? Why should I consider invoice factoring?