Advisers unsure about principles-based regs

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Mortgage intermediaries are split as to whether the Financial Services Authority's move towards principles-based regulation will benefit firms.

The latest intermediary census from the Association of Mortgage Intermediaries’ (Ami) has revealed 39% of members who were asked for their opinion on principles-based regulation believe it will improve the regulatory regime for firms while 41% say they think it will make no difference at all. A further 6% believe small firms are set to benefit from the move to principles-based regulation while 14% believe only larger firms are set to benefit. At the same time, 22% of Ami members believe the shift to principles-based regulation will give them more flexibility to decide how to meet the FS...

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