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Authorisation benefits for GISC members

Members in good standing of the General Insurance Standards Council will have a smoother journey through the authorisation process, the FSA announced yesterday.

Sarah Wilson, director of the high street firms division, has confirmed that applications from GISC members in good standing will receive “a level of scrutiny which reflects the standards set by GISC”.

In a letter to Chris Woodburn, chief executive of GISC, on the nature of &#39due credit&#39, Wilson explained that “GISC requirements and compliance programme provide sufficient evidence for the FSA to be able to regard your members in good standing as posing a lower risk to our statutory objectives than other otherwise similar applicants.”


Compliant recording service for brokers

Telephony service provider 24Talk has launched a call-recording service for brokers. Brokers, lenders and packagers of all sizes are all obliged to ensure telephone-based advice is compliant and legally admissible in court should a compliant lead to litigaiton. In a joint venture with application servce provider Verbal Store, 24Talk will offer brokers a pay-as-you-go service […]

Digest Call to raise duty threshold

The CML has criticised the government for failing to raise the £60,000 Stamp Duty threshold, claiming an additional 138,000 homebuyers will be liable to pay the tax this year. In its pre-Budget submission, the CML says the failure of successive governments to raise the threshold for more than a decade means it is now a […]

Living with devolved regulation

Having examined decision processes, credit reporting, property valuation and the talent pool as important areas where the UK and US non-conforming markets differ (Mortgage Strategy November 3) I will now focus on the remaining four, the most important of which I leave to last – regulation. • Product offering Over the past 35 years, the […]

Customers will pay the price of FSA regulation

From Peter BarwickI have read the letter from Brian Humphries of 1to1 Mortgages Limited (Mortgage Strategy September 29), and can only agree with his comments. I am beginning to wonder if FSA regulation is going to go the same way as the life assurance industry, where compliance was introduced in 1987. Life assurance companies were […]


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