Call to regulate commercial mortgage advice

Peter McGahan, managing director of Worldwide Financial Planning, is arguing the FSA needs to ensure all mortgage advisers are appropriately regulated, and this should extend to commercial mortgages as there is no requirement to monitor the activities of commercial lending. His argument stems from the current regulatory regime which places a requirement on a mortgage or investment adviser firm to ensure advisers are sufficiently qualified to give advice. More importantly, argues McGahan, should a mortgage adviser leave a firm and set up their own operation, the mortgage adviser is able to...