AMI reveals latest Mortgage Intermediary Census
www.moneynews.co.uk > Housing market > AMI reveals latest Mortgage Intermediary Census
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Money News |
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AMI reveals latest Mortgage Intermediary Census
Wed 16th Aug 2006
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The FSAs handbook is currently between 8,000 and 9,000 pages and the regulator has now suggested that it wishes to move to a more principles-based system.
It is thought that firms will still have to reach the same standards of regulatory compliance but that this approach will provide companies with an increased number of options.
When asked their opinion on the new regulation, almost 40 per cent said they thought it would improve things for all firms, with six per cent claiming it would only improve the situation for small firms.
A further 14 per cent believed it would improve things for larger companies and just over 40 per cent said they thought it would not improve the situation for any firms.
"The move to a more principles-based regulatory regime will have a major impact on the financial services industry," Rob Griffiths, associate director of AMI, commented.
"There are still questions to be answered around any potential impact or benefits for firms. AMI will be using the workshop and census results to feed into guidance for members on what the move might mean for them and for us as their trade body."
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