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.
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 faces its biggest challenge since the early days of the Mortgage Market Review in 2009, […]
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 appropriate protections are in place. It is part of Innovate, an initiative kicked off in […]
Jul 18 – Housing still broken
The number of new housing starts were flat in 2017, according to finalised figures from the Office for National Statistics. The Bank of England has suggested expectations are that Q1 2018 figures will show a slowdown, in part due to adverse weather and the so-called Beast from the East. Indeed, early indicators from the NHBC […]
