Apr 20 – Reserving judgement on FOS
AMI has waited patiently for an update on FOS’ 2020/21 consultation, which arrived via a statement on, of all days, April Fool’s day with the final budget and summary of consultation feedback to follow. Yet it would be foolish to think that this is a fair outcome, especially as FOS has ignored many of the […]
Apr 20 – Opening the floodgates for execution-only?
It was with an element of trepidation that I clicked on the link in an email at the end of January to read the long awaited and much discussed policy statement and final rules on mortgage advice and selling standards from the FCA. The preceding consultation had received reems of coverage with cries of disbelief […]
Apr 20 – Firms update
Things to consider if downsizing or closing a firm
Apr 20 – Firms to register for the FCA’s new data collection platform
The FCA is moving to a new data collection platform which will replace Gabriel.
Mar 20 – How to access more information
AMI is continuing to monitor the developing situation on Coronavirus and will communicate with you where we feel it appropriate. The following websites may be useful to both firms and individuals:
Mar 20 – Building operational resilience: does it matter?
Operational resilience has become an area of priority for the FCA and was included in their 2019/20 Business Plan. They issued a Consultation Paper on 5 December 2019 and within the mortgage intermediation sector it will apply to SM&CR enhanced firms. However, all firms ought to review the contents of the paper with their directors […]
Mar 20 – A little top heavy
As the FCA has grown its staff to almost 4,000 people it has also subtly changed shape. In addition to the Chair and Chief Executive it has evolved a number of divisions within its structure:- Strategy & Competition; Supervision – Investment, Wholesale & Specialists; Supervision – Retail & Authorisations; Enforcement & Market Oversight; and Operations. […]
Mar 20 – Information for firms
AMI is continuing to monitor the developing situation on Coronavirus and will communicate with you where we feel it appropriate. The FCA has
Feb 20 – The dangerous devil in the detail
The long-awaited Policy Statement on Mortgage Advice and Selling Standards has now been published by the FCA. Whilst the policy changes came into effect from 31 January there are transitional provisions that run to 30 July 2020 which allows firms to defer application. The FCA have stated that they are implementing all their consultation proposals […]
Feb 20 – The politics of investing
Having spent 2016 and 2017 working on the last fundamental review of the Financial Services Compensation Scheme it is fascinating to see investment advisers lobbying their MPs in droves as to its unfairness. I am not sure where they were during that review, other than Ken Davy of SimplyBiz who was very vocal in advocating […]
