February 2026:
The AMI Review
February may have been a short month, but it has been a busy and productive one for the team at AMI, particularly in our ongoing engagement with the FCA.
A major focus has been the FCA’s Pure Protection Market Study. AMI has completed an in-depth analysis, but the key takeaway is reassuring: the FCA is not proposing market-wide interventions.
That confirmation brings much-needed stability. At a time when the FCA’s own findings highlight a significant protection gap, it is positive to see a regulatory approach that supports continued investment and development rather than structural disruption. The emphasis now shifts to collaborative workshops and proactive industry action to address the areas identified, in which AMI will play a key part.
AMI in Action
I had the opportunity to attend and speak at the Later Life Lending Summit, where the message was clear: the future of later life lending must be more integrated and customer-centric.
We must move beyond operating in silos. Firms should work within a wider ecosystem, advising where appropriate and signposting or referring where necessary, supporting retirement planning, care considerations, intergenerational needs and mortgage borrowing in a joined-up way.
Technology will play an important role in making holistic advice more consistent. However, progress is not just about tools; it’s about facing into the known barriers as a sector and addressing them collectively.
Encouragingly, the FCA has recognised the significant work already being undertaken by trade bodies and industry stakeholders. There is a strong sense that most of the solutions already sit within the sector. This is not about calling for regulatory overhaul, but about building on existing progress. AMI and the Equity Release Council are working together on what is effectively a blueprint for the future later life lending market, bringing together distributors, advisers, lenders, technology providers and other stakeholders. The aim is not just to define a shared vision, but to deliver practical outputs that will move the market forward.
The FCA’s focus is now turning to the next steps on the mortgage rule review roadmap, the responsible lending consultation and a later life market study. AMI welcomes the open lines of dialogue and the opportunity for early engagement with policy teams.
Alongside this, the regulator’s Mills Review has again raised the role of AI in advice. AMI’s view is clear, technology should augment, not replace, advice. AI can enhance efficiency and consistency, but human judgement, accountability and personal interaction remain fundamental to good customer outcomes. Read our response to the review.
As we move into March, our priority remains continued strong FCA engagement, and responding to the FCA Pure Protection Market Study Interim Report and the Treasury’s consultation on the AR regime.
February blogs
Technology integration in the advice process
This 10-minute read outlines the key discussion points from AMI’s recent members’ breakfast meeting on AI in the advice process, highlights AMI’s position on AI and explains how AMI is supporting its members in this area.
Protection Viewpoint: from insight to action
Another 10-minute read, designed to share perspectives and ideas in support of our shared aim of helping more people to get protected. AMI recognises there is no single fixed approach to achieving this and would always encourage you to consider how the ideas and concepts shared fit within your own compliance framework and ways of working.
Also in February....
Insights from AMI: FCA Pure Protection Market Study
We take a closer look at the FCA Pure Protection Market Study Interim Report; What you need to know and how we are supporting our members…
Join the Working In Mortgages Lunch & Learn series; industry insight & support
A record-Breaking Working in Mortgages Lunch & Learn was held on Blue Monday, 19th January – get insight, support & watch on demand…
Industry updates: February 2026
AMI in discussion with the Financial Ombudsman
Find out more about the key themes of current mortgage intermediary complaints, and any emerging themes our members should be aware of…
Data Use & Access Act: the next phase - what members need to know
The next phase of the Data Use and Access Act came into force on 5 February 2026. We highlight the key changes relevant to mortgage intermediary firms…
Buy Now Pay Later: new protections confirmed for borrowers
From 15th July 2026, Buy Now Pay Later (BNPL) products will come under the regulation of the FCA, and will be subject to the Consumer Duty…
Save the date: Exclusive member webinar
Featuring Matthew Ward from the FCA
AMI is delighted to announce a member-only webinar taking place on 20 March 1pm-2pm, featuring Matthew Ward, Manager for the Pure Protection Market Study at the FCA.
This session will provide an overview of the key findings from the FCA’s Pure Protection Market Study Interim Report, outline how the FCA intends to address the issues identified, and explore the important role intermediaries play within the market. There will also be a Q&A session, giving members the opportunity to put their questions directly to the FCA.
Please save the date in your calendar – registration details will follow shortly.
AMI's response
AMI represents our members by contributing and steering regulatory policy development, working with key stakeholders across our membership, other trade bodies and the regulator to advocate for our members’ interests and ensure their voices are heard. Below are the responses we have submitted in February.
If you’d like to share your views on any current responses, please email [email protected].
AMI in the Press
Catch up on our latest appearances in the press; this month, AMI Head of Policy Stacy Penn writes for Moneyfacts magazine. She discusses the focus on renters, and how we can better support the first time buyers of tomorrow.
In other news, Chief Executive Stephanie Charman lends her voice to the discussion on Product Transfer fees in the latest edition of Mortgage Strategy (“Imbalance of Payments”, page 9-10). Steph also writes for Mortgage Strategy, on the FCA’s Feedback Statement and the roadmap ahead.
