Cummings warns broker delegates

In his opening speech at the Mortgage Business Expo, Association of Mortgage Intermediaries director-general Chris Cummings warned that year on year change had not only undermined consumer confidence but also impaired brokers’ ability to do business. But, he says, regulation is a necessary evil that brokers must make work. Cummings says brokers must improve administration and record keeping if they are to avoid the FSA’s wrath. He says: “The best advisers don’t necessarily make the best administrators, but admin is a get out of jail free card with the Ombudsman.”