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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 [...]

9 months ago / No Comments

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NOV

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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 [...]

9 months ago / No Comments

19

NOV

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Oct 19 – The bigger ticking bombs

BY AMI

The housing market appears stable, with forecasts suggesting that transactions will reach 1.2 million in 2019, in line with the long-term average. However, according to analysis by Zoopla and Hometrack, activity in the market is not evenly spread geographically.  Sales [...]

10 months ago / No Comments

22

OCT

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Oct 19 – Picking the right remedies

BY AMI

The FCA is due to deliver final remedies from its Mortgages Market Study in Q4, unanticipated events notwithstanding. AMI has already been vocal about a wholesale move to allow execution-only sales to re-enter the mainstream market.  It is a mistake, [...]

10 months ago / No Comments

22

OCT

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Sept 19 – Who is Sonia

BY AMI

Lenders are currently heavily involved in making plans for the abolition of LIBOR, however this may come as a bit of a surprise to intermediaries.  The lack of public utterances so far masks a vast raft of work going on [...]

11 months ago / No Comments

16

SEP

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Sept 19 – Fearful of FOS

BY AMI

The Financial Ombudsman Service is obliged to publish decisions which have been referred to an Ombudsman.  Firms should be looking at its website and searching for mortgage based decisions to update themselves on issues which might arise from the approach [...]

11 months ago / No Comments

16

SEP

No

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Aug 19 – A fairer FOS

BY AMI

FOS has now published proposals for its future funding having considered stakeholders’ feedback and the principles FOS has established in its previous conversations. It is proposing to rebalance the levy and case fee to aim for a 50:50 split, with [...]

12 months ago / No Comments

12

AUG

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Aug 19 – Only the headline

BY AMI

Freelance journalist Simon Read brought me sharply to attention when he wrote recently about whether anyone reads newspapers anymore.  The march of on-line and the ability to get anything on Twittersphere, Messenger or Whatsapp has totally changed “communication”.  As Trump [...]

12 months ago / No Comments

12

AUG

No

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Jul 19 – The truth that comes from advice

BY AMI

Following the financial crash in 2008, the Mortgage Market Review (MMR) introduced new rules in 2014 which followed a series of connected but distinct consultations that then produced an all-encompassing Policy Statement.  As part of this it is important to [...]

1 year ago / No Comments

30

JUL

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Jul 19 – Intermediaries and the SM&CR – what is your culture?

BY AMI

With less than six months before the FCA’s Senior Manager & Certification Regime (SM&CR) is extended across financial services businesses you might think that this is new regulation, based on filling in lots of forms.  Technically in law it is [...]

1 year ago / No Comments

16

JUL

No

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