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FSA and AIFA to launch placement scheme

Paul Rich, sector leader manager for retail intermediaries at the FSA says it will give the regulator first hand knowledge of what it is like to be a financial adviser.

Speaking at the Mortgage Strategy Live conference in Manchester, Paul Rich, sector retail manager for retail intermediaries at the FSA, says this will develop the depth and breadth of sector specific experience among FSA staff.

These staff will represent the regulator in its external dealings and review the coherence of the regulator&#39s requirements and policies.

And The FSA is currently in the process of employing 200 FSA enforcement officers to cope with regulation.

Rich says: “There is still more to come from the FSA. We have already had regional surgeries in Gloucester and Portsmouth, we will be re-launching our website, making further handbook improvements and simplifying the application packs.”


Advantage launches secured loans department

To head up the secured loan team, Advantage has recruited Angela Mitchell who has many years experience within the broker secured loan market. Advantage says it has secured relationships with a number of major high street lenders which means it can offer a market leading range of products and commission. Peter Bass, head of sales […]

Pink calls for lender code to cover transition period

The Lichfield-based mortgage distributor has called for the Council of Mortgage Lenders or the Intermediary Mortgage Lenders Association to issue a clear code of practice as lenders adapt to the changes that will take place. Dev Malle, associate director at Pink, says: “Many lenders have their own processes in place making this a confusing time […]

A View From The floor

Housing, debt and advice were all on the Liberal Democrats&#39 agenda at the party&#39s annual conference last week. The party&#39s shadow Chancellor Vincent Cable used his keynote conference address to attack the government, the Conservatives and to some extent the financial sector for fuelling what he called the debt bubble. “An orgy of debt-financed household […]

Demand for Ombudsman over-stated, says MCCB

Speaking at the Mortgage Strategy Live conference in Manchester yesterday, Richard Fox, compliance director at The Mortgage Code Compliance Board says that, based on his experience, very few cases have got as far as FOS and few will in the future. He told delegates: “There is very little for FOS to deal with. We have […]


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