Mortgage regs "will cull providers, intermediaries and choice"

Next year's pending FSA takeover of regulation of the mortgage market will cost the industry jobs and cut down on consumer choice, according to a new study prepared by the Institute of Actuaries. Drawing on comparisons with the life industry, the report's authors say that compliance costs and the costs associated with moving over to the new regime will force smaller and less efficient firms out of the market. Costs associated with mis-selling will also spiral as the FSA seeks to stamp its mark on an industry that is difficult to control at the edges. Companies that cann...