July 20 – Equity released, but not from FCA criticism
BY AMI
The FCA has published findings from its 2019 exploratory work into later life lending. These focus on the equity release sales and advice process, following a review of advice files from 13 of the largest and most experienced firms in [...]
7 hours ago / No Comments
13
JUL
July 20 – Criteria says No
BY AMI
When Rishi Sunak bounced the banks into mass payment deferral programmes, he also indicated that this would not impact a consumer’s credit score. By the time Gov.uk set out their views in May on help with mortgages they stated that [...]
7 hours ago / No Comments
13
JUL
No
Comments
June 20 – True Colours
BY AMI
The first week of June saw the interim Chief Executive of the FCA make his boldest move since taking the reins. In announcing that the FCA was invoking FSMA Section 165 powers linked to a data request to 13,000 firms [...]
4 weeks ago / No Comments
16
JUN
No
Comments
June 20 – Product value in insurance
BY AMI
On 3 June the FCA published guidance on the value of insurance products (GI and pure protection). The focus is on products which, due to coronavirus, may not be able to provide the expected contractual benefits or there is a [...]
4 weeks ago / No Comments
16
JUN
No
Comments
May 20 – Business as usual at FCA
BY AMI
In its proposed fees budget for 2020/21, the FCA has considered the effect of any fee increases on small firms and has moved to freeze minimum fees and defer the payment deadline for the fees of small and medium sized [...]
2 months ago / No Comments
11
MAY
No
Comments
May 20 – Putting remortgage to the sword
BY AMI
As part of the Mortgages Market Study, the FCA said that more needed to be done to help ‘less active’ consumers who remain on their mortgage reversion rate at the end of any initial term. This was also highlighted in [...]
2 months ago / No Comments
11
MAY
No
Comments
Apr 20 – Keeping your customers safe
BY AMI
It’s hard to believe that it’s been less than two weeks since the UK went into lockdown and Zoom, Microsoft Teams, WhatsApp and Skype became our preferred way to communicate. In an industry that has always favoured face to face [...]
3 months ago / No Comments
14
APR
No
Comments
Apr 20 – Reserving judgement on FOS
BY AMI
AMI has waited patiently for an update on FOS’ 2020/21 consultation, which arrived via a statement on, of all days, April Fool’s day with the final budget and summary of consultation feedback to follow. Yet it would be foolish to [...]
3 months ago / No Comments
14
APR
No
Comments
Apr 20 – Opening the floodgates for execution-only?
BY AMI
It was with an element of trepidation that I clicked on the link in an email at the end of January to read the long awaited and much discussed policy statement and final rules on mortgage advice and selling standards [...]
3 months ago / No Comments
14
APR
No
Comments
Mar 20 – Building operational resilience: does it matter?
BY AMI
Operational resilience has become an area of priority for the FCA and was included in their 2019/20 Business Plan. They issued a Consultation Paper on 5 December 2019 and within the mortgage intermediation sector it will apply to SM&CR enhanced [...]
4 months ago / No Comments
18
MAR
No
Comments
No
Comments