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Why you need file checks

Posted by H3 on 2012-03-07 12:49:52 GMT

How many files should I be checking?  I only complete prime cases, so do I need file checks? Will the FSA expect to see file checks as part of the current Business Risk Assessment Workshop (BRAW)?  Is it now easier to complete a compliant file as the industry has restricted the higher risk products? 


FSA Authorisation help

Posted by H3 on 2012-02-03 12:39:10 GMT


We receive regular requests from firms looking to obtain FSA authorisation. Not all these requests are from firms who are currently working under a network, we get several requests from new entries, either advisers looking to branch out and start a brokerage or people who haven’t been in the industry before.  The individuals making the requests for FSA authorisation are often a little apprehensive on what’s involved and so we feel it a good opportunity to review this subject in more detail.


New Financial Services Bill published

Posted by Admin on 2012-01-30 09:56:34 GMT

The Chancellor George Osborne has revealed details about the Financial Services Bill that will overhaul regulation of the sector.

It will give the Chancellor the power to veto decisions made by the Bank of England when dealing with bank bailouts and other interventions.

The bill will replace the so-called Tripartite structure, introduced by the previous Labour government.


FSA's 2012 Business Risk Awareness Workshops

Posted by Admin on 2012-01-16 13:00:40 GMT

The FSA are now progressing with their final round of ‘housekeeping’ before they are abolished and replaced by the FCA.   The Regional Assessment Programme consists of Business Risk Awareness Workshops (BRAW) to which all small firms with retail clients will be invited, and then a follow-up regulatory review, called the Proactive Regulatory Review will be conducted with the firm.


MMR Consultation Paper

Posted by Admin on 2011-12-19 16:47:47 GMT

The long awaited Mortgage Market Review Consultation Paper has finally been published by the Financial Services Authority.

Below we summarise the main points contained within the 585 page document – full details of which are available here.


Mortgage income verification scheme launched

Posted by H3 on 2011-08-30 13:05:51 BST

The formal launch of a new scheme to combat mortgage fraud starts on the 1st September 2011. 


OFT threatens to remove Swift's licence

Posted by Admin on 2011-06-23 16:08:30 BST

The Office of Fair Trading has warned sub-prime lender Swift, trading as Swift Advances and Swift Securities, that it must improve its lending and collections practices or it risks losing its Consumer Credit Licence.


MMR proposals - publication delayed until Autumn

Posted by Admin on 2011-06-23 16:00:42 BST

The Mortgage Market Review proposals will not be published before early autumn, Lord Turner, chairman of the Financial Services Authority, has revealed in the FSA's public meeting held in London today.


FSA Financial Crime Guide Consultation

Posted by H3 on 2011-06-22 16:59:16 BST

Speaking at the FSA’s financial crime conference, Tracey McDermott (acting director of enforcement and financial crime) explained that the Financial Conduct Authority (FCA) will assume the FSA’s responsibilities on financial crime and will continue to focus on “the use of firms as a conduit for financial crime”


New Limit for FOS

Posted by H3 on 2011-05-27 15:10:29 BST

New complaints handling rules have been confirmed by the FSA and an increase in the FOS award limit from £100,000 to £150,000.


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