Existing IFAs could pay £250 for mortgage status, says FSA

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Small IFAs may have to pay an additional fee of around £250 to continue doing mortgage and intermedi...

Small IFAs may have to pay an additional fee of around £250 to continue doing mortgage and intermediary business when the FSA becomes the market's official regulator next year, says the latest consultation paper discussing proposed fee structures. All firms interested in conducting mortgage from October 2004 and insurance business from January 2005 will be asked to either register for the first time or complete a "Variation of Permission" to do additional streams of business. IFAs already doing investment or pensions business could be asked to pay up to 50% less than the total app...

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