Jan 20 – Residential Renaissance
As we leave behind the election, the new government has a range of challenges facing it. One amongst many is the housing dilemma, in that all parties committed in their manifestos to get Britain building even more. The delivery of new homes, and the achievement of building 240,000 over the past 12 months, falls short […]
Jan 20 – Changes at the FOS
The New Year will bring a consultation on changes to the funding of the Ombudsman service. It appears that the PPI debacle has masked a savage increase in overheads at the service where the PPI case fees have subsidised a huge cost transformation. As these cases run off the industry is now being asked to […]
Jan 20 – The shifting view on income protection
The phrase ‘mortgage protection products are sold; they are not bought’ surfaces time and time again. But this is true in a post-MMR (Mortgage Market Review) world where the core mortgage advice and application process takes a significant amount of time, resulting in protection conversations that too often happen too late in the process and […]
Dec 19 – The price of “free”dom
In the past I have been critical of the marketing by lenders of “free valuations” and “free legals”. News is reaching me again of significant delays in purchase and re-mortgage cases as the service provided through some conveyancers are at crisis point. I remain confused as to how this can occur. The lender offering the […]
Dec 19 – Cultural Awareness
As a responsible trade body, AMI has always wanted an effective and efficient regulator. In the FCA we have in the past enjoyed an open and participative approach built on mutual trust. The MMR and FSCS funding consultation being two shining examples. In support of FCA we have always had outstanding access and very open […]
Nov 19 – The gift of SM&CR
With the FCA’s Senior Manager & Certification Regime (SM&CR) due to be extended across financial services businesses from 9 December 2019, I would have expected more noise from small to medium sized advice firms complaining about the complexity. It makes me wonder if firms have actually recognised the need to do something. All firms should […]
Nov 19 – Remember, Remember the 9th of December
This is the magic date when we migrate from the Financial Conduct Authority’s Approved Persons regime to the new Senior Managers regime. Further changes will occur during 2020 when firms will have to complete activity to comply with the new rules covering Certification and the Directory, which replaces some aspects of the FCA Register. All […]
Nov 19 – Goldilocks forgets the porridge
After a process as long as Brexit, the FCA has finally coughed up its new affordability rules to deal with the trapped borrower issue. The call for inputs on its Mortgages Market Study was in October 2015, followed by the Feedback Statement in May 2016 resulted in the publication of the Terms of Reference in […]
Nov 19 – FCA Directory
In July 2018 the FCA consulted on the introduction of the Directory, a new public register which will make information available on individuals carrying out certain roles in financial services.
Nov 19 – SM&CR Q&A updated
Further to our previous newsflash in September sharing AMI’s Senior Manager and Certification Regime FCA Q&A document, following recent discussions with the FCA, we are pleased to share an updated document that firms may find useful in their SMCR preparations.
