Publisher's Synopsis
In December 2001, HM Treasury announced that the regulatory powers of the Financial Services Authority were to be extended to include the regulation of mortgage lending, sales and administration and general insurance sales and administration. Regulation of the mortgage industry is a response to the need to protect consumers from scandals such as the endowment mis-selling scandal of the 1980s and 1990s. The government expects that regulation by the FSA will help rebuild public confidence in the sector and that it will also ensure that the industry conducts its business in an appropriate manner. This means that from 31 October 2004, all those who carry out mortgage business will need to be authorised by the FSA. Although the FSA has been working hard to try to ensure that the process for regulating many thousands of sole traders and small firms is straightforward and efficient, many remain unfamiliar with the FSA's regime.;Endorsed by the Association of Mortgage Intermediaries and compiled by a team of leading mortgage advisers and consultants A Practical Guide to the FSA's Regulation of Mortgages provides a single-source solution to all the current compliance issues as well as those due to come in force by October 2004.
