Passing business leads requires FSA authorisation - AMI

From October 31st, any mortgage introducer which presents mortgage leads – which are secondary or coincidental to their own existing business - will not be required to gain FSA authorisation providing they are passing that lead to a directly authorised firm, an Appointed Rep (AR) of a directly authorised firm or an authorised overseas firm. However, anyone who passes on a simple business lead linked to the general insurance market will be required to hold FSA authorisation from next January – once GI regulation comes into force – says the Association of Mortgage Intermediaries. It is ...