Oct 18 – Product risks and advice
For the last four years UK authorities have been working jointly with industry to pursue an alternative and more robust interest rate benchmark to LIBOR. Although it could be said to have a number of weaknesses, its manipulation resulting in [...]
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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 & [...]
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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 [...]
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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 [...]
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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 [...]
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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 [...]
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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 [...]
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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 [...]
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Jul 18 – Set them free
Following my article last month on the significant work undertaken by the FCA which is set out in their Mortgages Market Study Interim Report it is important that I return to the same subject. This is because our sector now [...]
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Jul 18 – No free lunch here
The FCA announced its fourth cohort of firms who have been approved to enjoy the benefits of their sandbox. The regulatory sandbox allows firms to test innovative products, services or business models in a live market environment, while ensuring that [...]
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