Oct 18 – The pressure for tech?
The Mortgages Market Study has a significant focus on technology and innovation. In trying to put that into perspective it appears it starts with desire from government to change our market. Earlier this year, the Department for Business, Energy & Industrial Strategy issued a green paper on “modernising consumer markets”. It sought views on how […]
Oct 18 – Crucial times
Introduction I am returning to the subject of the FCA’s Mortgages Market Study once again this month as I consider this to be the most important issue that has faced me since joining the trade body world in 2006. The proposals have the potential to significantly change our market, based on limited data analysis and […]
Oct 18 – AMI responds to global sandbox
The FCA recently issued a consultation on creating a global sandbox in which ‘innovative’ firms from around the world could test their business models in the UK with dedicated regulatory support (reciprocated for UK firms wishing to become regulated in overseas jurisdictions).
Sep 2018 – The new prison breaks
The Sunday Times recently wrote a scathing attack on the impact of Help to Buy on house prices and the risks of negative equity in certain parts of the country. The reality is that there has always been a “new build premium” representing the price gap between comparable properties in the same locality one of […]
Sep 2018 – Financial Crime
As the techniques used to carry out financial crime continue to advance, firms should be regularly reviewing their systems and controls. This includes reviewing processes to mitigate the evolving risks of money laundering and fraud. The FCA recently wrote to the banks on how to handle financial crime risks posed by cryptocurrencies, such as Bitcoin. […]
Aug 18 – Cryptocurrencies
Last year, the FCA issued a warning against ‘initial coin offerings’ which offer a digital way of raising funds from the public using a virtual currency (such as BitCoin).
Aug 18 – The risks of robo
With robo-advice still in its infancy in the mortgage sector, but many firms claiming to have new fintech propositions, it is worth looking at the investment market which is further ahead in its development. There are undoubtedly lessons to be learned here as a recent FCA review has identified. The regulator looked at investment firms […]
Aug 18 – Fuel on the flames
Firms will now be receiving their final FCA invoices for the year 2018/19. By far the largest component of the costs is the fees levied by the FCA on behalf of the Financial Service Compensation Scheme (FSCS). Bill payers have got used to the huge levies raised on them under the Life and Pensions class. […]
Aug 18 – Better mortgages?
Introduction After a period of reflection over the FCA’s Mortgages Market Study, the good news is that it was really positive to see that the mortgage market is working well in many respects. The interim report found high levels of consumer engagement, good levels of switching, a reassuring range of products on offer with apparent […]
Jul 18 – FCA Mortgages Market Study
As you are aware, the FCA has been conducting a study into effective competition in the mortgage market. AMI has today submitted its response to the interim report.
