Notes for Guidance - Money adviser - Debt Arrangement Scheme

You can be an approved money adviser if you are:

• qualified to act as an insolvency practitioner in accordance with the Insolvency Act 1986
• an individual who works for such an insolvency practitioner and has been given authority by the practitioner to act on their behalf as a money adviser for the purposes of DAS
• a money adviser working for an organisation which has been awarded accreditation at Type 2 level or above in accordance with the Scottish National Standards for Information and Advice Provision
• a money adviser working for a citizens advice bureau which is a full member of the Scottish Association of Citizens Advice Bureaux – Citizens Advice Scotland
• a money adviser working for a local authority and
• not in any category of people who cannot be approved

If you want to become an approved money adviser but do not meet any of the aforementioned criteria you may:

• apply in writing, either electronically incorporating an image of your relevant organisation or on headed note paper, stating your name and business address
• include a statement of your suitability to act as a money adviser for the purposes of DAS
• provide evidence of any relevant training undertaken and
• enclose a valid criminal record certificate under Part 5 of the Police Act 1997 (a disclosure Scotland certificate) dated less than 12 months before the date of your application

The DAS Administrator may approve your application if satisfied you are a fit and proper person to be an approved money adviser, have undergone training as specified in Schedule 3, are not a person mentioned above and have put in place appropriate arrangements (where applicable) to ensure compliance with rules made by the Financial Conduct Authority and to ensure appropriate regard is given to their guidance.

The DAS Administrator will aim to respond to your application within 10 days of receipt.

You may not become an approved money adviser if you are a:

• sheriff officer, messenger-at-arms, or an employee of such a person
• person or body providing financial services, or financial advice other than money advice, in the course of a business or otherwise for profit, or an employee of such a person, unless the person is:
  • a solicitor
  • a chartered or certified accountant
  • a credit union
• person providing debt collection services, or an employee of such a person
• person convicted of an offence involving theft, fraud or other dishonesty
• person subject to a bankruptcy restrictions order (including an interim order) or bound by a bankruptcy restrictions undertaking, under legislation in Scotland, England, Wales, or Northern Ireland
• person in respect of whom a court has made a disqualification order, or who has had a disqualification undertaking accepted under the Company Directors Disqualification Act 1986
• person whose approval to be a DAS approved money adviser is revoked or suspended