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FSA issues letters to network applicants

The FSA has this week started issuing letters to applicants wishing to operate a network with a mortgage or general insurance permission – both new firms (where a minded to authorise letter is issued); and existing authorised firms (where the letter states that the FSA isminded to vary their permission).

The timing of any letter depends on when a network applied; on the issues that the application raises; the complexity of the business proposition; and the speed with which the firm can answer FSA&#39s subsequent enquiries. The FSA expects to issue a substantial number of network decisions over the next six weeks.

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