Exclusion of rogue firms is good news, says AMI

THE ASSOCIATION of Mortgage Intermediaries has welcomed the fact that the Financial Services Authority has kept out more than 600 rogue mortgage and general insurance brokers since it took over regulation last year.

AMI says the news can only be good for the industry and consumers. It says there is no space in the market for firms that do not match up to industry standards.

Andrew Honey, head of insurance in the small firms division of the FSA, says: “It is essential that unfit firms are kept out to ensure there is a level playing field for the benefit of intermediaries. It also provides crucial protection for consumers.”