The FSA says the approved persons regime will cover the whole of the mortgage industry, despite calls it should be limited to the intermediary market.
The FSA has proposed to extend the approved persons regime to people providing advice or arranging mortgages. While the FSA said this had been "broadly supported" by the industry, some believed the changes should only cover intermediaries. However, speaking to the CML yesterday, Lesley Titcomb, director of small firms and contact for the FSA, said that there was no point in taking a "half-hearted" approach to extending the regime and the regulator must have oversight of the whole industry and those who work in it in order to combat fraud properly. She said: "Whatever we introduce for ...
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