AMI approves of FSA register
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The Association of Mortgage Intermediaries is backing the Financial Services Authority’s approved persons register.
Robert Sinclair. director of AMI, says that it is right everyone selling mortgages, both advised and non-advised, within lenders and intermediaries are personally accountable.
He adds: “This is a significant step forward in protecting the public and increasing access to advice.
“If branch based staff are advising on mortgage products they should hold the same level of qualification and status as mortgage intermediaries.”
AMI also supports the FSA decision to push back on the timetable to ensure the regulator has its automated systems available.
But Sinclair expresses some concern over the CF31 proposal.
He says: “We are yet to be convinced that this is an appropriate level of authorisation for the mortgage profession and will continue to monitor matters with FSA.”
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