The Association of Mortgage Intermediaries (AMI) today warns a "read-across" of the RDR to the mortgage market without proper consultation could be dangerous for the industry.
In its response to the Retail Distribution Review (RDR), the AMI says the mortgage and investment markets are very different, and regulatory intervention is only justified in cases of market failure. The RDR is mainly focused on the retail investment market but the FSA's Stephen Bland recently hinted an RDR-style review may be on the way for the mortgage arena. AMI says it has submitted the response because it is concerned regulations for the investment market could creep into mortgage selling. Richard Farr, director of AMI, says: “The document highlights the unique and highly successf...
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