Archive by Category: Article

Nov 19 – The gift of SM&CR

BY IN Article On 19th November 2019

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 [...]

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Nov 19 – Remember, Remember the 9th of December

BY IN Article On 19th November 2019

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 [...]

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Nov 19 – Goldilocks forgets the porridge

BY IN Article On 19th November 2019

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 [...]

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Oct 19 – The bigger ticking bombs

BY IN Article On 22nd October 2019

The housing market appears stable, with forecasts suggesting that transactions will reach 1.2 million in 2019, in line with the long-term average. However, according to analysis by Zoopla and Hometrack, activity in the market is not evenly spread geographically.  Sales [...]

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Oct 19 – Picking the right remedies

BY IN Article On 22nd October 2019

The FCA is due to deliver final remedies from its Mortgages Market Study in Q4, unanticipated events notwithstanding. AMI has already been vocal about a wholesale move to allow execution-only sales to re-enter the mainstream market.  It is a mistake, [...]

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Sept 19 – Who is Sonia

BY IN Article On 16th September 2019

Lenders are currently heavily involved in making plans for the abolition of LIBOR, however this may come as a bit of a surprise to intermediaries.  The lack of public utterances so far masks a vast raft of work going on [...]

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Sept 19 – Fearful of FOS

BY IN Article On 16th September 2019

The Financial Ombudsman Service is obliged to publish decisions which have been referred to an Ombudsman.  Firms should be looking at its website and searching for mortgage based decisions to update themselves on issues which might arise from the approach [...]

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Aug 19 – A fairer FOS

BY IN Article On 12th August 2019

FOS has now published proposals for its future funding having considered stakeholders’ feedback and the principles FOS has established in its previous conversations. It is proposing to rebalance the levy and case fee to aim for a 50:50 split, with [...]

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Aug 19 – Only the headline

BY IN Article On 12th August 2019

Freelance journalist Simon Read brought me sharply to attention when he wrote recently about whether anyone reads newspapers anymore.  The march of on-line and the ability to get anything on Twittersphere, Messenger or Whatsapp has totally changed “communication”.  As Trump [...]

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Jul 19 – The truth that comes from advice

BY IN Article On 30th July 2019

Following the financial crash in 2008, the Mortgage Market Review (MMR) introduced new rules in 2014 which followed a series of connected but distinct consultations that then produced an all-encompassing Policy Statement.  As part of this it is important to [...]

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