Feb 20 – The dangerous devil in the detail
BY AMI
The long-awaited Policy Statement on Mortgage Advice and Selling Standards has now been published by the FCA. Whilst the policy changes came into effect from 31 January there are transitional provisions that run to 30 July 2020 which allows firms [...]
2 days ago / No Comments
24
FEB
Feb 20 – The politics of investing
BY AMI
Having spent 2016 and 2017 working on the last fundamental review of the Financial Services Compensation Scheme it is fascinating to see investment advisers lobbying their MPs in droves as to its unfairness. I am not sure where they were [...]
2 days ago / No Comments
24
FEB
No
Comments
Jan 20 – Residential Renaissance
BY AMI
As we leave behind the election, the new government has a range of challenges facing it. One amongst many is the housing dilemma, in that all parties committed in their manifestos to get Britain building even more. The delivery of [...]
1 month ago / No Comments
15
JAN
No
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Jan 20 – Changes at the FOS
BY AMI
The New Year will bring a consultation on changes to the funding of the Ombudsman service. It appears that the PPI debacle has masked a savage increase in overheads at the service where the PPI case fees have subsidised a [...]
1 month ago / No Comments
15
JAN
No
Comments
Jan 20 – The shifting view on income protection
BY AMI
The phrase ‘mortgage protection products are sold; they are not bought’ surfaces time and time again. But this is true in a post-MMR (Mortgage Market Review) world where the core mortgage advice and application process takes a significant amount of [...]
2 months ago / No Comments
3
JAN
No
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Dec 19 – The price of “free”dom
BY AMI
In the past I have been critical of the marketing by lenders of “free valuations” and “free legals”. News is reaching me again of significant delays in purchase and re-mortgage cases as the service provided through some conveyancers are at [...]
3 months ago / No Comments
12
DEC
No
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Dec 19 – Cultural Awareness
BY AMI
As a responsible trade body, AMI has always wanted an effective and efficient regulator. In the FCA we have in the past enjoyed an open and participative approach built on mutual trust. The MMR and FSCS funding consultation being two [...]
3 months ago / No Comments
12
DEC
No
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Nov 19 – The gift of SM&CR
BY AMI
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 [...]
3 months ago / No Comments
19
NOV
No
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Nov 19 – Remember, Remember the 9th of December
BY AMI
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 [...]
3 months ago / No Comments
19
NOV
No
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Nov 19 – Goldilocks forgets the porridge
BY AMI
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 [...]
3 months ago / No Comments
19
NOV
No
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No
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