Many firms have ‘close links’ and the FSA’s policy statement on close links will affect all those firms so the top article page 2 is a must read for affected firms.

All IFAs are very well aware of the RDR requirements and the prudential rules are spelt out in the review document. We always recommend reading the whole document, but the summary on page 2 is essential reading for IFAs who at least have 4 years to prepare for the prudential requirements.

Mortgage intermediaries have had to survive turbulent times from a market perspective and Lesley Titcomb, who is now Mortgage Sector Leader, is proposing a shake-up in the regulatory regime (Top article page 5.) The FSA intends to be interventionist and intrusive so all firms should be sure that their compliance documentation to prove TCF and suitability is up to scratch. The Mortgage Lenders’ Round-up paper also lists the Mortgage Market Review Roadshow dates and locations and although attendance can be time-consuming it is usually a very valuable experience and worth that investment in time.

If we can be of further service on this or other regulatory matters we look forward to hearing from you and please remember your helpline 08456 121211 or email admin@ifact.co.uk for a without obligation conversation.

Kind regards

John Derry-Collins
FInst SM AMITD Fcol MInstD MIoD
Director
IFAct Services Ltd
Tel. No. 08456 121 211

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