Notice Information
Notice Title
Shared Ownership Financial Advice
Notice Description
The regulatory and technical requirement to complete work on shared ownership projects is high. Community organisations have struggled to obtain competitive quotes even after engaging with the market. This PIN is intended to identify if there are suitably qualified financial advisors in the marketplace that can be engaged to support this work in the future.
Lot Information
Lot 1
The aim of this PIN is to test the market for suitably qualified financial advisors, and we anticipate that this is likely to be a very niche market. This exercise is undertaken to allow us to understand how many suitably qualified advisors are in the market or are currently in the process of developing the required regulatory permissions and experience that can be procured by communities via PCS. The Energy Saving Trust leads the Local Energy Scotland consortium who manage the Scottish Government's Community and Renewable Energy Scheme (CARES). The Scheme supports community organisations to invest in or benefit from commercial renewable energy developments. Further details can be found at https://www.localenergy.scot/. We are currently aware of over 30 fully consented wind farm projects that are offering shared ownership to communities, so there is a strong pipeline of opportunities for advisors. Advisors on these opportunities must meet the following regulatory and technical requirements. Regulatory requirements: The minimum Financial Conduct Authority (FCA) permissions required by an advisor for advising a community together with the relevant FCA Handbook rule references detailed below: - Regulatory permission - FCA Handbook rule - Agreeing to carry on a regulated activity - PERG 2.7.21G - Advising on investments with underlying permissions to allow advice to retail clients; and in investments comprising shares or units - PERG 2.7.14CG, 15G, 16G & 16-AG PERG 8.24G - Making arrangement with a view to transacting in investments - PERG 2.7.7AG (2), B, BA, BB, BC - Arranging (bringing about) deals in investments - PERG 2.7.7AG (1), B Technical experience: We would expect an advisor to have skills and experience including, inter alia, being able to: - understand the nature of the investment opportunity, in this case a renewable energy project and product (i.e. the investment type), and thus the specifics and nuances in developing and operating such an asset. - understand and be competent in undertaking and reviewing complex financial modelling. - understand, analyse, and advise on appropriate funding models and sources of leverage for the community investment. - understand the associated risks and corresponding mitigations to the investment opportunity. - understand, analyse, and calculate the potential costs and rewards for the investment opportunity. - understand the operational and regulatory requirements of the suggested pooled investment vehicle options (including other options as appropriate); and - communicate complex information effectively to a retail client audience, including a clear rationale for recommendations made (i.e. invest or not invest, most suitable investment vehicle, etc.). We would like to hear from suppliers who already have, or intend to develop, the required regulatory permissions and experience that can be procured by communities.
Notice Details
Publication & Lifecycle
- Open Contracting ID
- ocds-r6ebe6-0000661813
- Publication Source
- Public Contracts Scotland
- Latest Notice
- https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=SEP426633
- Current Stage
- Planning
- All Stages
- Planning
Procurement Classification
- Notice Type
- PCS Notice - Website Prior Information Notice
- Procurement Type
- Standard
- Procurement Category
- Services
- Procurement Method
- Not Specified
- Procurement Method Details
- Not specified
- Tender Suitability
- Not specified
- Awardee Scale
- Not specified
Common Procurement Vocabulary (CPV)
- CPV Divisions
66 - Financial and insurance services
-
- CPV Codes
66171000 - Financial consultancy services
Notice Value(s)
- Tender Value
- Not specified
- Lots Value
- Not specified
- Awards Value
- Not specified
- Contracts Value
- Not specified
Notice Dates
- Publication Date
- 6 Sep 20214 years ago
- Submission Deadline
- Not specified
- Future Notice Date
- 31 Jan 2022Expired
- Award Date
- Not specified
- Contract Period
- Not specified - Not specified
- Recurrence
- Not specified
Notice Status
- Tender Status
- Planned
- Lots Status
- Planned
- Awards Status
- Not Specified
- Contracts Status
- Not Specified
Buyer & Supplier
Contracting Authority (Buyer)
- Main Buyer
- ENERGY SAVING TRUST LTD
- Contact Name
- David Angelini
- Contact Email
- david.angelini@est.org.uk
- Contact Phone
- Not specified
Buyer Location
- Locality
- EH6 6JH
- Postcode
- EDINBU RGH
- Post Town
- Not specified
- Country
- Not specified
-
- Major Region (ITL 1)
- Not specified
- Basic Region (ITL 2)
- Not specified
- Small Region (ITL 3)
- Not specified
- Delivery Location
- TLM Scotland
-
- Local Authority
- Not specified
- Electoral Ward
- Not specified
- Westminster Constituency
- Not specified
Further Information
Notice Documents
-
https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=SEP426633
Shared Ownership Financial Advice - The regulatory and technical requirement to complete work on shared ownership projects is high. Community organisations have struggled to obtain competitive quotes even after engaging with the market. This PIN is intended to identify if there are suitably qualified financial advisors in the marketplace that can be engaged to support this work in the future.
Open Contracting Data Standard (OCDS)
View full OCDS Record for this contracting process
The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts.
{
"tag": [
"compiled"
],
"id": "ocds-r6ebe6-0000661813-2021-09-06T00:00:00Z",
"date": "2021-09-06T00:00:00Z",
"ocid": "ocds-r6ebe6-0000661813",
"initiationType": "tender",
"parties": [
{
"id": "org-14",
"name": "Energy Saving Trust Ltd",
"identifier": {
"legalName": "Energy Saving Trust Ltd"
},
"address": {
"streetAddress": "2nd Floor, Ocean Point 1, 94 Ocean Drive",
"locality": "EH6 6JH",
"region": "UKM",
"postalCode": "Edinburgh"
},
"contactPoint": {
"name": "David Angelini",
"email": "david.angelini@est.org.uk",
"url": "http://"
},
"roles": [
"buyer",
"centralPurchasingBody"
],
"details": {
"classifications": [
{
"id": "Government Sub-contractor",
"scheme": "TED_CA_TYPE"
},
{
"id": "05",
"description": "Environmental protection",
"scheme": "COFOG"
}
],
"url": "http://www.energysavingtrust.org.uk"
}
}
],
"buyer": {
"name": "Energy Saving Trust Ltd",
"id": "org-14"
},
"planning": {
"documents": [
{
"id": "SEP426633",
"documentType": "plannedProcurementNotice",
"title": "Shared Ownership Financial Advice",
"description": "The regulatory and technical requirement to complete work on shared ownership projects is high. Community organisations have struggled to obtain competitive quotes even after engaging with the market. This PIN is intended to identify if there are suitably qualified financial advisors in the marketplace that can be engaged to support this work in the future.",
"url": "https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=SEP426633",
"format": "text/html"
}
]
},
"tender": {
"id": "ocds-r6ebe6-0000661813",
"title": "Shared Ownership Financial Advice",
"description": "The regulatory and technical requirement to complete work on shared ownership projects is high. Community organisations have struggled to obtain competitive quotes even after engaging with the market. This PIN is intended to identify if there are suitably qualified financial advisors in the marketplace that can be engaged to support this work in the future.",
"status": "planned",
"items": [
{
"id": "1",
"additionalClassifications": [
{
"id": "66171000",
"scheme": "CPV"
}
],
"deliveryAddresses": [
{
"region": "UKM"
}
],
"relatedLot": "1"
}
],
"mainProcurementCategory": "services",
"lots": [
{
"id": "1",
"description": "The aim of this PIN is to test the market for suitably qualified financial advisors, and we anticipate that this is likely to be a very niche market. This exercise is undertaken to allow us to understand how many suitably qualified advisors are in the market or are currently in the process of developing the required regulatory permissions and experience that can be procured by communities via PCS. The Energy Saving Trust leads the Local Energy Scotland consortium who manage the Scottish Government's Community and Renewable Energy Scheme (CARES). The Scheme supports community organisations to invest in or benefit from commercial renewable energy developments. Further details can be found at https://www.localenergy.scot/. We are currently aware of over 30 fully consented wind farm projects that are offering shared ownership to communities, so there is a strong pipeline of opportunities for advisors. Advisors on these opportunities must meet the following regulatory and technical requirements. Regulatory requirements: The minimum Financial Conduct Authority (FCA) permissions required by an advisor for advising a community together with the relevant FCA Handbook rule references detailed below: - Regulatory permission - FCA Handbook rule - Agreeing to carry on a regulated activity - PERG 2.7.21G - Advising on investments with underlying permissions to allow advice to retail clients; and in investments comprising shares or units - PERG 2.7.14CG, 15G, 16G & 16-AG PERG 8.24G - Making arrangement with a view to transacting in investments - PERG 2.7.7AG (2), B, BA, BB, BC - Arranging (bringing about) deals in investments - PERG 2.7.7AG (1), B Technical experience: We would expect an advisor to have skills and experience including, inter alia, being able to: - understand the nature of the investment opportunity, in this case a renewable energy project and product (i.e. the investment type), and thus the specifics and nuances in developing and operating such an asset. - understand and be competent in undertaking and reviewing complex financial modelling. - understand, analyse, and advise on appropriate funding models and sources of leverage for the community investment. - understand the associated risks and corresponding mitigations to the investment opportunity. - understand, analyse, and calculate the potential costs and rewards for the investment opportunity. - understand the operational and regulatory requirements of the suggested pooled investment vehicle options (including other options as appropriate); and - communicate complex information effectively to a retail client audience, including a clear rationale for recommendations made (i.e. invest or not invest, most suitable investment vehicle, etc.). We would like to hear from suppliers who already have, or intend to develop, the required regulatory permissions and experience that can be procured by communities.",
"status": "planned"
}
],
"communication": {
"futureNoticeDate": "2022-01-31T00:00:00Z"
},
"classification": {
"id": "66171000",
"scheme": "CPV"
}
},
"language": "EN",
"description": "We encourage interested supplier's to express their interest prior to the 24/09/2021. NOTE: To register your interest in this notice and obtain any additional information please visit the Public Contracts Scotland Web Site at https://www.publiccontractsscotland.gov.uk/Search/Search_Switch.aspx?ID=661813. (SC Ref:661813)",
"links": [
{
"rel": "canonical",
"href": "https://api.publiccontractsscotland.gov.uk/v1/Notice?id=ocds-r6ebe6-0000661813"
}
],
"noticetype": "PCS Notice - Website Prior Information Notice"
}