Investment intermediaries should be on the look out for business deals with mortgage intermediaries who have no idea of what it is like to work under the FSA's regulatory regime, says law firm Clarke Willmott (CW) partner Philip Tebbatt.
Mortgage intermediaries are confused by apparently contradictory statements comingfrom the FSA, and some "mis-information" in trade press advertisementsfrom networks about the pain of direct authorisation, Tebbatt says. It is not necessarily the case that being directly authorised is as difficult as some may indicate, he says. "Maybe investment intermediaries should knock on the door of their mortgage intermediary neighbour and make an offer," Tebbatt says. CW's own surveys of mortgage intermediaries show that most "don't realise what is coming". Tebbatt says In its latest quart...
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