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Last chance for DA aspirants

It says: “We will do our best to deal with DA applications and late AR notifications before Mortgage Day but we cannot compromise the integrity of our scrutiny or that of our decision-making process.

“Outstanding applications and notifications should be submitted urgently and firms should make doubly sure that the required forms are complete and correct.”

Last week the FSA issued an update saying it had received 6,822 registrations from the mortgage sector to obtain an application pack and 3,950 applications for authorisation as of September 3.

Comparable figures for the general insurance sector were 13,282 registrations for an application pack and 9,191 applications for authorisation.

Also, by that date, 39,614 letters had been sent to applicant firms indicating that the FSA was minded to authorise them to carry out mortgage or general insurance business. Of these, the sectoral split was: mortgage 3,375, primary insurance 3,394, secondary insurance 2,845.

Minded to approve letters have been issued to 79 firms wishing to operate a network with a mortgage or general insurance permission. Of these, 46 received variation of permission letters. This makes a total of 125 networks, 79 relating to mortgage or mixed business and 46 to relating to general insurance.

Sarah Wilson, director of the FSA&#39s high street firms division, says: “These figures shows how much progress has been made since the mortgage and general insurance authorisation process started at the beginning of this year.”

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