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FSA should clamp down on small companies’ bad ads

I am writing in response to Simon Robin’s recent letter (Mortgage Strategy March 12 ).

I am a one-man band mortgage adviser who trades in a niche market and I too am frustrated by rival firms’ advertisements I see appearing in local publications.

As I normally charge a fee I naturally disclose this fact and also make sure I also attach any other relevant disclaimers. Indeed, as I am part of a network my compliance department provides assistance with this and must approve any advertisement of mine prior to publication.

But many other advertisements appearing next to mine do not carry relevant disclaimers and do not mention fees charged when they should.

This impacts on my business while blatantly breaking the regulator’s rules. Why should my business suffer as a result of the FSA overlooking small firms because it has bigger fish to fry?

If you put all these little fish into the FSA’s net, surely the risk to clients would be seen to be big enough for the regulator to sit up and take notice.

I’d like to say I feel a campaign coming on, but to what avail?

Max Thompson
Mortgage and insurance adviser
By email


Commercial seminars in NI

InterBay is running seminars in Northern Ireland to educate brokers on the subject of commercial mortgages.

Disappointing Budget for FTBs, says FirstRungNow

FirstRungNow has described today’s Budget as disappointing for first-time buyers.Helen Adams, managing director of first-time buyers advice-site, says there is little that will be particularly helpful for first-time buyers.She says: Removing Stamp Duty from the purchase of zero-carbon homes is worthy and welcome but at the moment the number of these homes is very […]

Government sends estate agents definitive HIP date

The Department of Communities and Local Government has sent a leaflet to all estate agents in England and Wales that prominently states that Home Information Packs will become law on June 1 2007. Hipstar says this is the most proactive statement to date to confirm that there is no likelihood of a deferment to the […]

AXA makes key appointments

AXA has made three senior appointments to its protection business following structural changes unveiled last November. Graham Harvey, managing director of AXA’s protection business, has made Jamie McIver director of sales, Iain Mallon head of marketing and Tim Hopkinson head of development.

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Pensions: trouble ahead?

The pace of change in the pension’s space has been little short of astonishing, and has left thousands of employers struggling to keep their pension policy compliant, and also on the right side of current best practice and governance. Many employers, and indeed many in the pensions industry itself, would like to see a period of no change during the next term of government. This would give all sides a chance to catch up and draw breath. 


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