Mortgage brokers should take a "rigorous and industry respected" qualification in treating customers fairly after it emerged two firms had been fined and another handed a public censure by the FSA for management failings.
The ifs School of Finance says the reprimands underline the importance of TCF and points out courses like its Certificate in Regulated Customer Care (CeRCC) can help ensure firms avoid falling foul of the regulator in the future. Yorkshire-based Lawrence Scoffield Mortgages Ltd (LMSL) and West Midlands firm Council Homebuyers Ltd (CHL) each received £10,500 fines, while Manchester-based Mortgage Network Solutions (MNS) was also singled out, for a catalogue of management failings, the FSA announced today. The action follows a five-month inquiry last year into the quality of advice on offer...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
