AMI welcomes approved persons register for all
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The Association of Mortgage Intermediaries welcomed the announcement that the approved persons regime will be applied to the whole industry.
AMI is responding to yesterday’s speech at the Council of Mortgage Lenders’ event by Lesley Titcomb, director of small firms and contact centre at the Financial Services Authority, where she outlined the FSA’s desire to extend any register to the whole industry and not just brokers.
Robert Sinclair, director of AMI says: “The confirmation that the approved persons regime will be applied to the whole industry is a welcome affirmation of the desire to provide a consistent regime. Also the need to protect vulnerable consumers has the full support of AMI.”
But while AMI also welcomed the requirement to look at income in detail it still had some questions.
“Will brokers be required to obtain income details, check it, review its plausibility or verify its accuracy? These are very different tasks and clarity on whether these will be broker or lender responsibilities will be welcome.
