Jan 21 – A new shiny FCA
The Treasury is currently consulting on the future financial services regulatory framework. This is our “once in a generation” chance to shape who regulates our industry with focus on their objectives and how they are “managed and controlled”. We have until 19 February to think through improvements needed. At the same time, the FCA is […]
Jan 21 – FCA directory
In July 2018 the FCA consulted on the introduction of the Directory
Jan 21 – SM&CR Certification focus
In 2019 AMI produced a suite of documents to assist firms in ensuring they were ready for the new FCA Senior Managers and Certification Regime. It is important that
Jan 21 – Closing the gap
The Association of Mortgage Intermediaries (AMI) recently partnered with Legal & General and Royal London to undertake a major consumer research project on consumer attitudes and their recollections of interactions in the protection market. The research asked 5,000 consumers and 500 mortgage brokers about their knowledge and understanding, principally on life, critical illness and income […]
Dec 20 – Brexit
The UK’s Brexit withdrawal transition period ends on 31 December 2020 at 11pm. AMI has prepared a factsheet to highlight areas for member firms to consider ahead of this deadline
Dec 20 – Don’t bury your heads
It is almost six months since the FCA published its findings from exploratory work on lifetime mortgage lending on 17 June 2020. In what has been a muddled year, where mentally it feels like it should be March yet we are nearing Christmas, it’s important that the significance of this regulatory review does not get […]
Dec 20 – Paying for poor advice
As a trade body head representing the mortgage intermediary community the last few months have been tough. The isolation of Covid has not suited me well. I am not looking for sympathy but it has changed our approach to lobbying and how we have to work to influence regulators, lenders and firms. New tricks. At […]
Dec 20 – New routes to market
Before the ink has dried on the £17.9m fine imposed by the Competition and Markets Authority on Compare the Market for breaching competition law by imposing wide ‘most favoured nation’ clauses on providers of home insurance, they have announced a tie up to deliver execution only remortgages to consumers embracing a range of household mortgage […]
Nov 20 – Getting to grips
The FCA has written to all mortgage intermediary firms setting out its supervisory agenda for the next 12 months. The six page letter sets out the key issues it is concerned about – firms should be able to clearly demonstrate why their customers have been advised to take a particular product and the customer should […]
Nov 20 – Certification rears its head and shouts out
As part of the same letter to the mortgage intermediary portfolio, the FCA has reminded all directly authorised firms that they have until 31 March 2021 to ensure all staff in certified roles are fit and proper to perform those roles. There should be a Senior Manager who has individual responsibility for ensuring the firm […]
